PROFIT 500

PROFIT 500 National Sponsors

#8

Mint Technology Corp.

Snapshot

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.

Company Profile

Founded: 2003 Chief Executive(s): Chris Hogg Stock Ticker: TSXV: MIT
Website: www.themintcorp.com Head Office: Toronto  

Company Financials

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.