Latest move by management to increase rvevenue stream
MIT) (OTCQB: MITJF) is pleased to announce the following letter to its shareholders:
Dear Shareholders,
We continue to expand our Mint eco-system and bring to the market mobile led, digital financial products to the underserved segments that we witness.
We are pleased to announce that Mint has extended its fintech platform beyond individual and corporate clients to underserved merchants & small businesses. With that platform extension, we intend to reinvent consumer & merchant experience by offering merchant management services and a payment gateway (both in store and online) in merchant categories which previously have had little or no online presence. We have witnessed a rapid proliferation of mobile led commerce in the UAE and intend to leverage our expertise in transitioning Mint into a pure-play fintech platform. We will bring digital financial inclusion to the underserved merchants on the back of a reliable and secure digital payments eco-system.
With the introduction of VAT in the UAE, there is a huge push by the UAE government for a cashless economy. Currently, approximately 75% of the transactions are via cash. This paradigm is slowly but surely changing in the UAE.
UAE is witnessing a rapid growth in small and medium enterprises (SME's). There are approximately 350,000 SME's in UAE. This sector employs over 70% of the country's population according to Department of Economic Development - Government of Dubai.
We intend to look at specific merchant SME opportunities to offer digital and online capabilities in the UAE, starting with grocery and boutique luxury, supported by a secure and a fully functional payment gateway.
As we continue to evolve and extend our fintech platform, we will update our shareholders on upcoming plans and milestones.
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."
