Mint Corp V.MIT

Alternate Symbol(s): MITJF

Financial Services Credit Services

The Mint Corporation, through its subsidiaries, is a globally certified payments company. The Company is focused on offering financial services to the unbanked salaried worker in the United Arab Emirates (UAE). The Company provides employers with payroll cards for their unbanked employees. It offers employers scalable, flexible and payroll card management solutions through its globally certified payments platform. It also focuses on facilitating payroll disbursement for unbanked workers, employees not qualified for traditional bank accounts. Its UAE operations comprise five entities, including Mint Middle East LLC (MME), Mint Electronic Payment Services Ltd (MEPS), Mint Capital LLC (MCO), Mint Gateway for Electronic Payment Services (MGEPS) and Hafed Holding (Hafed). MME is a payroll card services provider facilitating an automated and secure payroll system to employers in the UAE. Its UAE operations payroll cards and mobile app are branded under the Hafed name.

TSXV:MIT - Post by User

Mint Corp

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Comment by PositionTradeon Feb 16, 2012 9:57pm

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Post# 19547218

RE: RE: RE: UAE expat remittances top $49 bn in fi

JMHO -

What you mentioned is RETAIL price.

But for payroll, MIT can only get WHOLE SELL price.

And WHO SHOULD PAY THE FEE?

Most probablly, they are NOT paid by the emplyees, but by the employer, who definitely want to save the processing fee and will negotiate a fee level that can save them money.

Hence I guess 0.5% fee may be more realistic.

Once MIT got the critical mass, this fee ratio is profitable, I GUESS.

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