Mint Technology Corp.
This transaction-processing company offers debit cards, ATMs and point-of-sale capabilities to clients in emerging markets in the Middle East in which lower-paid foreign workers have no access to traditional banking services. With an office in Dubai, Mint facilitates payroll with its debit cards for 3,000 employers who must, by law, pay these employees electronically. Among the many things that have made Mint such a success in the Middle East are its concerted efforts to forge relationships with partners in this key market. For instance, all salespeople conduct all business face to face, because that’s what locals like. As a result, Mint recently nabbed a key joint venture with a bank in Saudi Arabia, and has become the top non-bank providing its badly needed services in the region.
|Founded: 2003||Chief Executive(s): Chris Hogg||Stock Ticker: TSXV: MIT|
|Website: www.themintcorp.com||Head Office: Toronto|
|Growth 2007-12 (%): 3,700*||Revenue 2012: 35,734,337||Reporting $: CAD|
|Exports as % of Sales: 0||Employees 2012: 111||Employees 2007: 12|
* Mint Technology Corp.'s correct growth rate is 369%, which would have placed it at #175 on the 2013 PROFIT 500. The discrepancy arises from the accounting of certain Mint revenues on a gross basis, where net basis accounting would have been more appropriate.