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Mint Technology Corp. ("Mint" or "the Company") (TSX: MIT-V) today announced that it has entered into an agreement with IMT Cards LLC ("IMT") for IMT to exclusively manage Mint's prepaid debit card programs in the United Kingdom.
IMT will act as manager and agent of Mint's prepaid card programs in the UK, of which two contracts are currently in advanced stage negotiations. IMT and its management team will act as Mint's representative when transacting with clients. This will give Mint local representation on the ground that has experience, local market knowledge, and an existing range of partnerships with Issuing Banks and Processors to enable Mint to deliver its solutions.
Chris Hogg, President of Mint commented, "A managing agency partnership with IMT Cards is instrumental to executing Mint's global expansion, particularly in Europe. This allows Mint to execute and deliver on a "share of profits" basis the new opportunities we have secured in this region."
Richard Barry, Director of IMT concluded, "We are excited about the UK partnership with Mint as their business model is synergistic with IMT's. This builds on our Middle East managing agency agreement with Mint and we look forward to combining our local skills and partnerships with Mint's business development and marketing expertise to assist them to grow their UK business."
ABOUT MINT TECHNOLOGY CORP.
Mint Technology Corp. ("Mint") is a pioneer in prepaid financial products and services and is Canada's first provider of prepaid credit card programs. As a MasterCard(R) Member Service Provider, Mint works with business partners to customize prepaid credit card programs that are tailored to meet a company and its card holder's needs. Mint has developed a secure, robust payments platform that provides an improved means to handle and manage financial transactions. Mint also provides services for those clients looking to move towards 'next generation' payment methods that include chip, internet, data mining and mobile phone load and remittance technologies. Mint's prepaid card products include general spending for the underserved, youth and employee payroll. Stock Symbol: MIT, TSX-V.
ABOUT IMT CARDS LLC
IMT Card LLC was established in 2005 by partners from various industries ranging from information technology to finance. The aim of the company is to provide the highest standard of quality and complete safety for electronic money transfers, user friendliness and convenience for our worldwide clients. IMT Card provides corporate solutions to companies that have seen the tremendous advantages and opportunities in a Stored Value Card program. IMT sold prepaid debit cards directly to the public; this in-turn gave IMT the advantage of first hand product experience and a deeper understanding into what clients want and need.
<< THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. >>
SOURCE: Mint Technology Corp.
please visit www.mintinc.com or contact: Mint Technology Corp., Chris Hogg, President and CEO, Tel: (416) 581-0001 ext. 222, Email: chogg@mintinc.ca; Dawn Mandarino, CFO, Tel: (416) 581-0001 ext. 229, Email: dmandarino@mintinc.ca; CHF Investor Relations, Lindsay Carpenter, Account Manager, Tel: (416) 868-1079 ext. 239, Email: lindsay@chfir.com; To receive Company news via email, contact mirna@chfir.com and mention "Mint news" on the subject line.
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