Le Lézard
Classified in: Business
Subject: NEW PRODUCTS/SERVICES

Mint launches multi-currency prepaid travel card in the UAE


TORONTO, April 11, 2019 (GLOBE NEWSWIRE) -- The Mint Corporation (TSX-V: MIT) (OTCQB: MITJF) ("Mint") is pleased to announce that its majority-owned subsidiary, Mint Middle East LLC ("MME"), based in the United Arab Emirates (UAE), has successfully launched a pre-paid travel forex card to facilitate cashless and pre-fixed forex rate transactions for travelers in the region.

Mint aims to capture a share of the prepaid foreign exchange card market with the introduction of multi-currency prepaid card solutions for UAE exchange houses that will enable them to serve their travelling customers with a multi-currency prepaid card and mobile application. The application will allow up to 25 currencies for the linked multiple accounts with 6 active currencies. The multi-currency card can be white labelled or co-branded according to the needs of the exchange houses.

"We are excited to present the multi-currency travel card to our stakeholders in the UAE. The payments industry is constantly evolving and needs robust digital solutions that not only facilitate easier digital payments, but also keeps them secure. Multi-currency travel cards are a safer alternative to carrying cash and take the worry out of travel for customers while travelling abroad" states Abdul Razzak Al Abdullah? Chairman & CEO of MME.

The multi-currency card will allow users to load multiple currencies onto a single card allowing the customer to use the currency of their choice while travelling abroad. Customers will be able to view their balance or see their transaction history. Mint is uniquely placed to offer an end to end multi-currency travel prepaid solution in the UAE and will enable the exchange houses to go to market quickly along with other value-added services.

"We are at the forefront of the cashless drive in the UAE. We have long standing relationships with the many foreign exchange houses in the UAE. The launch of our prepaid multi-currency card in conjunction with our exchange house partners is a testament to our technology and payment capabilities built over the past few years. This initiative also enables Mint to attract a new demographic of end customers towards our platform and helps deepen our existing exchange house relationships." states Vishy Karamadam, Chairman & CEO of The Mint Corporation.

UAE has seen sharp growth in outbound travel during the recent years. According to World Tourism Organization, approximately 7.6 million outbound travels were witnessed during 2018 from the UAE. Currently around 55% of the travel expenses are cash based and accounts for a total of US$10.4bn out of the total outbound travel expenditure of US$19Bn.

About Mint
The Mint Corporation through its majority-owned subsidiaries (the "Mint Group"), is a globally-certified payments company headquartered in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers, employees and merchants with best-in-class financial services supported via payroll cards and the feature rich and linked Mint mobile application. Through its mobile enabled payments platform certified globally by Mastercard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers, merchants and consumers.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

The Mint Corporation
Vishy Karamadam
647-352-0666
www.themintcorp.com


These press releases may also interest you

at 00:25
Shanghai Junshi Biosciences Co., Ltd ("Junshi Biosciences," HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced its financial...

at 00:24
In the news release, Roborock Reports 2023 Full Year Financial Results, issued 28-Mar-2024 by Roborock over PR Newswire, we are advised by the company that in the first bullet point of "Growth across Product Categories", the USD amount should read...

28 mar 2024
Royal Bank of Canada ("RBC") today announced it has completed the acquisition of HSBC Bank Canada ("HSBC Canada"). "Today marks one of the most exciting times of our 155-year history and a pivotal milestone in our long-term growth story as we...

28 mar 2024
The opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2024 was held in Boao, south China's Hainan Province on Thursday, with China's top legislator Zhao Leji stressing China's economic potential, appealing to international investors...

28 mar 2024
OKX Ventures, the investment arm of leading Web3 technology company OKX, has issued updates for March 29, 2024. OKX Ventures...

28 mar 2024
Curio Legacy Ventures (Curio), a frontrunner in nuclear technology innovation, proudly announces a strategic partnership with Navarro Research and Engineering, Inc. (Navarro). This collaboration signals a significant step forward in advancing nuclear...



News published on and distributed by: