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Breaking
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Prepaid Plays Pivotal Role In Trial Of
New Mastercard(R) Paypass(Tm) Wristband
08:30 EDT Thursday, October 26, 2006
FSC / Press Release
Prepaid Plays Pivotal Role In Trial Of New Mastercard(R) Paypass(Tm)
Wristband
Toronto, Ontario CANADA, October 26, 2006 /FSC/ - Mint Technology Corp.
(MIT - TSX Venture), announced today that the Company played a key role
in the successful MasterCard Worldwide trial of a new contactless
payment device. A MasterCard(r) PayPass(tm) enabled wristband was given
to the first 5,000 fans entering Giants Stadium for the New York
Giants-Indianapolis Colts football game on Sunday, September 10,
compliments of MasterCard. The wristbands were pre-loaded with $25 and
were used at concession stands throughout the stadium where PayPass is
accepted.
The trial was designed to test a new contactless device enabled by
prepaid accounts from Mint in venues and at special events such as
professional football games and Major League Baseball (MLB) games.
PayPass(tm) offers consumers a convenient alternative to cash that
allows for small ticket purchases to be completed quickly, securely and
easily. Consumers no longer need to fumble for cash and coins, swipe a
card, or sign a receipt for any PayPass(tm) purchase under $25
(purchases over $25 will require a signature and a receipt). Consumers
simply tap their PayPass(tm) enabled card or device on the PayPass(tm)
reader at participating locations and they are on their way.
A non-reloadable prepaid account can be set up in advance, tied to any
contactless device and, unlike traditional card accounts where personal
information is necessary, the contactless devices are loaded with
preset funds that can then be accessed immediately.
"This is the second trial in the United States we have been involved in
and in the past year we have also lent our prepaid capabilities to
assist MasterCard and their PayPass(tm) merchants throughout the United
States in the rollout of the technology," said Frank Maduri, president
and CEO, Mint Inc., "The ease of prepaid and our flexibility and
expertise has allowed MasterCard to depend on us to provide them with
the means to trial their new contactless technology."
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical
economic link between financial institutions, businesses, cardholders
and merchants worldwide. As a franchisor, processor and advisor,
MasterCard develops and markets payment solutions, processes close to
14 billion payments each year, and provides industry-leading analysis
and consulting services to financial institution customers and
merchants. Through its family of brands, including MasterCard(r),
Maestro(r) and Cirrus(r), MasterCard Worldwide serves consumers and
businesses in more than 210 countries and territories. For more
information go to www.mastercardworldwide.com.
About Mint Inc.
Mint Inc., a subsidiary of Mint Technology Corp., is a leading payment
solutions company. Through its' payment platform and prepaid credit
card programs, Mint is the first in Canada to facilitate and deploy
prepaid MasterCard(r) cards with unique features such as co-branding
and loyalty programs, and new wireless payment alternatives such as;
MasterCard cards with PayPass(tm) functionality. The parent company
Mint Technology Corp. is headquartered in Toronto, Ontario. To find out
more about Mint Technology Corp. (TSX-V: MIT), visit our website at www.mint-technology.ca.
For more information please contact:
Mich Ahern
Public Relations, Mint Technology Corp.
c:416.454.8060
o:416.581.0001, EXT. 216
mahern@mintinc.com
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
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