Mint Technology partners with APS Financial to expand prepaid business in UK

Mon. June 15, 2009; Posted: 09:42 AM

Jun 15, 2009 (Datamonitor via COMTEX) -- MITJF | Quote | Chart | News | PowerRating -- Mint Technology has entered into a business partnership and issuing bank agreement with APS Financial, a wholly owned subsidiary of Advanced Payments Solutions, for Mint's prepaid business in the UK.

As a regulated financial institution in the UK with ability to provide direct servicing of electronic money applications throughout the European Union, APS Financial (AFL) will act as the issuing bank for Mint's prepaid products in the UK. APS's other primary services will include interface with MasterCard for the approval of programs, legal and regulatory oversight, assistance with marketing and consumer communications, and oversight of money laundering, fraud, and Serious Organized Crime Agency reporting.

Chris Hogg, president and CEO of Mint Technology, said: "We are looking forward to the expansion of Mint's business in the UK, especially with a partnership with a company whose fundamental business strategy is directly in-line with our own. I am confident that with an overseas partner in APS, giving Mint enhanced local market capabilities and through a high quality and robust platform to service our UK prepaid clients, Mint's business will continue its global growth as it has in the last year, and be further resourced to take advantage of acquisitions in our sector."

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