Mint expands payroll card, proprietary ATM services with African agreement
Mint Gateway for Electronic Payment Services LLC, part of The Mint Corp., has entered into a three-year payment processing services agreement with an African payroll program.
The program has a planned initial deployment of 300,000 MasterCard-branded payroll cards to be used in the disbursement of salaries to government employees, according to a press release.
Mint provides employers with automated payroll services and a proprietary Automated Teller Machine network for employers' unbanked employees.
Mint community members are issued a personalized, globally accepted, MasterCard or UnionPay card and a linked mobile wallet. Member salaries are deposited into mobile wallet, which effectively becomes the employee's bank account.
The initial deployment in Africa — which represents a 75 percent increase in the number of cards currently processed by Mint — is expected to be completed within 12 months, the release said.
"[Mint] mobile-enabled technology payments platform encompasses issuing, processing and acquiring," Mint Corp. CEO Vishy Karamadam said in the release. "Mint is among a select group of companies with this capability globally and in the region. We are looking forward to the opportunity to implement and expand our service offerings into rapidly growing economies in Africa … this expansion further validates our theme of global expansion and focusing on the underbanked."