Jul 06, 2007 (M2 PRESSWIRE via COMTEX News Network) --
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Wall Street praised the slide of deal-making news that have boosted some sectors and added to the growing bull sentiment. The newly released figures from the Service sector demonstrated a slight expansion in non-manufacturing industries, indicating that the economy is also recovering smoothly and inflation is indeed on a moderate' level. However, the indecisive progression of bond yields and upcoming economic data on Labor Department's jobs report could play crucial roles in the investors' bullish belief. Mint Capital Corp. (TSX-V: MIT), closed at $ 0.125 with a trading volume of 206,800 this Thursday.
The different exchanges in the US and Canada have been our focal research centers recently, and with much of our resources probing the Canadian Juniors in particular, we are always on the lookout for potential companies. As the market prepares itself for some major economic data due to be released during the course of this month, we bring you our latest nominee, Mint Capital Corp.
On Thursday July 5th, 2007, Mint Capital Corp., a subsidiary of Mint Technology Corp., released news to investors, reporting that it has launched, in partnership with CashValet Financial Services Inc., Canada's premier payroll card ("Payroll Card"). Payroll Cards offer employers the perfect solution for recurring payments such as payroll, expenses and incentives.
"This announcement demonstrates our ability to rapidly develop new products that address untapped markets and opportunities," said Frank Maduri, CEO and president, Mint Technology Corp. "Payroll Cards are an extension of our suite of prepaid products, which are targeted at replacing cheque-based and manual methods of payment."
"The use of prepaid cards for payroll is one of the fastest growing prepaid card segments in the United States and we expect similar adoption in Canada," said Celine Charlebois, CEO of CashValet. "Payroll Cards provide significant benefits for both the employer and employee -- a win win situation. The CashValet payroll prepaid card is a smart way to pay and a smart way to cash."
According to the Pelorus Group, an independent research firm, there were 7 million Payroll Cards in circulation in the US in 2006. This represents more than a three-fold increase from the 2.2 million cards in circulation in 2004. The number of US Payroll Cards is expected to increase to 17.5 million in 2010. Research by the Aite Group projects spending on Payroll Cards to exceed $27.1 billion by 2009.
Payroll Cards will save companies up to 75% of the costs associated with issuing paper-based pay cheques, expense reimbursements and benefits. Employers simply provide their employees with personalized Payroll Cards, where funds can be electronically loaded. Funds from employees' pay cheques can then be withdrawn from ATM machines, or the funds can be used for purchases anywhere traditional credit cards are typically accepted. The employee benefits are two-fold; firstly, it eliminates cheque-cashing fees for those employees that do not have a banking relationship or those that are underbanked. Secondly, it provides credit card like capabilities to those employees that do not qualify for traditional credit cards.
Through its wholly owned subsidiaries, Mint is a leading payment solutions company. With its payment platform and prepaid credit card programs, Mint is the first in Canada to facilitate and deploy prepaid credit cards with unique features such as co-branding and loyalty programs, and new wireless payment alternatives such as contactless functionality. The company is headquartered in Toronto, Ontario.
As a division of Perceptech Inc., CashValet has been a specialist in direct deposit solutions since 1980. CashValet develops and markets new methods of electronic transactions. CashValet manages a payroll prepaid card including program implementation, sales and marketing, system operation, risk management and customer service.
As many on The Street keep their chins high about stocks in the course of more merger news, the bulls are slowly consolidating grounds on the market after weeks of strenuous efforts against the odds. We will stay focus on the chain of events and developments that would be linked with Mint Capital Corp. as they make their way through their respective exchange. If you wish to keep in touch with Mint Capital Corp. as they dwell the trading flow, please visit our website, www.streetinvesting.com, for free exclusive insights.
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