(MENAFNEditorial) TORONTO, Jan. 05, 2018 (GLOBE NEWSWIRE) -- The Mint Corporation (TSX-V:) ("Mint" or the "Company") is a leading globally certified payments company focused on offering financial services to the unbanked salaried workers in Dubai, a global financial centre in the United Arab Emirates (UAE).
The Company is pleased to announce that Vikas Ranjan has joined the board of Mint. Mr. Ranjan is the co-founder and Director of Gravitas Financial Inc. and a management professional with an MBA in Finance from McGill University and over 22 years of experience in diverse areas of finance and capital markets. Mr. Ranjan also has considerable work and investment experience in India, a key emerging market and one of the fastest growing large economies in the world.
Mr. Ranjan will focus on bringing strategic opportunities to enhance Mint's various business lines along with strategic investors, and on strengthening Mint's profile and awareness in the capital markets. A key focus will be expanding Mint's payments platform into emerging markets such as India, where a large percentage of Mint's cardholder base originates.
Mint recently announced that it plans to integrate blockchain into its existing financial technology platform in order to enhance its current offerings to corporate clients and their employees.
'Currently, there is tremendous capital support for blockchain initiatives. We have seen considerable capital being raised for companies entering into the blockchain domain and believe that Mint's core business lends itself very well to using such technology to increase margins and expand its product offerings,' stated Mr. Ranjan.
'The Mint team is pleased to welcome Vikas, who has agreed to provide his extensive capital markets experience and counsel to the board of the company. I look forward to working closely with Vikas as Mint continues to gain recognition in the capital markets and executes on its business plan,' stated Vishy Karamadam, CEO of Mint.
Forward Looking Statements
This news release contains forward-looking statements. Forward-looking information include statements with respect to Mint's intention to integrate blockchain into its existing financial technology platform. The forward-looking statements are based on certain expectations and assumptions made by the Company. Although the Company believes that those expectations and assumptions are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those anticipated due to a number of factors and risks. The use of blockchain technology will require modifications to Mint's existing technology platform. Mint must obtain the expertise necessary for that purpose, modify its platform and complete testing, prior to launching any blockchain enabled service. While Mint believes that blockchain technology will reduce costs and enhance its offerings to corporate clients, the extent of that reduction in costs and enhancement of offerings cannot be determined at this time. The forward-looking statements contained in this press release are made as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
About The Mint Corporation
Mint, through its majority owned subsidiaries (the 'Mint Group'), is a leading globally certified payments company focused on offering financial services to the unbanked salaried worker based in Dubai, United Arab Emirates (UAE). The Mint Group provides employers with payroll disbursement service by offering salaries via a reloadable globally accepted prepaid card issued under MasterCard and Union Pay International schemes for their unbanked employees. These employees earn regular salaries and have long-term work permits. The Mint card effectively becomes a cardholder's bank account. The Mint Group offers a comprehensive suite of value added services for its corporate clients and to their employees via a fully functional mobile application linked to their card account. The Mint Group network covers the entire spectrum of payments value chain from issuing, processing and acquiring with its own proprietary ATM network and does the processing and settlement of transactions through its in-house payment platform.
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