The Good News continueThis is excellent news. Card base is growing:
Mint Announces Payroll Card Services Contract for Sharaf Exchange Customers in UAE
Monday, October 31, 2011
TORONTO, ONTARIO--(Marketwire - Oct. 31, 2011) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Mint Technology Corp. ("Mint") (TSX VENTURE:MIT) announces today that the Company's subsidiary Mint Middle East LLC ("MME") has signed a Payroll Services Agreement with SHARAF EXCHANGE L.L.C., ("Sharaf"). Sharaf is a licensed and authorized money exchange house, which is authorized by the UAE Central Bank and the UAE Ministry of Labor to process wages under the Wages Protection System ("WPS").
Sharaf has selected Mint to manage approximately 20,000 cardholders who are employed by a wide range of employer customers with whom Sharaf has already entered into payroll card agreements in relation to the provision of WPS to such customers. Sharaf has contracted with MME to manage the issuance of prepaid cards for the payroll accounts of the employees of these customers.
Mint President & CEO, Nabil Bader, said today, "This announcement brings the number of new cardholders secured by Mint Middle East to 50,000 this month alone. We are pleased that our push into providing outsource services to Banks and Exchange Houses is beginning to bear fruit."