A Canadian First: First Nations to Receive Social Assistance Benefits on Prepaid Cards

Market Wire, July, 2006

Mint Capital Corp., a subsidiary of Mint Technology Corp. (TSX-V: MIT), and FP Financial Ltd. announced today that the companies have partnered to provide the first prepaid financial services product in Canada used to remit recurring social assistance benefits to Canada's First Nations communities. As a replacement for traditional paper cheques, the FirstPeoples Prepaid Benefits Card program will allow administrators and benefit recipients to take advantage of direct financial savings, convenience and the added safety and security that a traditional credit card offers.

Under the FirstPeoples Prepaid Benefits Card program, social assistance benefits can be remitted monthly onto personalized prepaid cards and recipients will then be able to have immediate access to funds, withdrawing funds from ATMs and making purchases everywhere traditional credit cards are accepted. The First Nations prepaid card addresses the real needs of benefit recipients. On average, recipients spend countless hours in line each month waiting to receive their cheques and many must then travel outside of their communities to cheque cashing facilities. The majority of benefit recipients in Canada's native communities do not have traditional banking relationships and rely solely on cheque cashing facilities losing, on average, 3% of their monthly benefits income plus a $2.50 to $3.00 fee per cheque for this service. Reviewing a case study of an average family with several children receiving monthly benefits of $724.48 and using this service, cashing a cheque costs approximately $24.23 each month, or $290.76 a year. In addition to financial savings and convenience, the FirstPeoples Prepaid Benefits Card is far safer than carrying cash, and cardholders benefit from a zero liability policy if their card is lost or stolen.

First Nations administrators currently rely on paper cheques for monthly benefits distribution and by implementing the FirstPeoples Prepaid Card program in their communities, it will provide efficiency in their program delivery and allow a significant decrease in costs via direct operational savings. On average, there is a $3.60 processing and clearing fee per cheque and an additional $3.00 spent on administration. As a plastic substitute for these costly cheques, this convenient method of distribution will reduce administration expenses, eliminate the cost of processing cheques and reissuing lost or stolen cheques.

"We believe that providing a First Nations prepaid card will directly lead to empowerment in our communities. Millions of funds yearly are wasted on costs associated with social assistance benefits being distributed through cheques -- immediate and long term saving for both our communities and for individuals in our communities has been a huge motivator for us to move quickly with this program. These savings can ultimately be invested back into our future," said Lee Price, President, FP Financial Ltd. "Every dollar saved is another dollar that can be used for community improvements whether it be schooling, promoting cultural activities or general community infrastructure enhancements and economic growth," he added.

"As another first, Mint continues to be committed to introducing new categories for prepaid cards in Canada. This particular application for recurring payments highlights the merits of a prepaid solution -- significant financial savings and greater convenience," said Frank Maduri, president and CEO, Mint Technology Corp. "It is an added bonus for us to be able to initially introduce this type of card program knowing that it will lead to greater financial independence and savings in Canada's native communities," he added.

Mint is able to offer prepaid cards in Canada through its partnership with GE Money, an agreement signed in late 2005 that included an equity stake in Mint for GE Money.

About Mint Technology Corp.

Mint 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® cards with unique features such as co-branding and loyalty programs, and new wireless payment alternatives such as MasterCard cards with PayPass™ functionality. The company is headquartered in Toronto, Ontario. To find out more about Mint Technology Corp. (TSX-V: MIT), visit our website at www.mintinc.com .

About FirstPeoples Financial Ltd.

FirstPeoples Financial (FP) is an Aboriginal company that provides financial services that make sense and meet the needs of Canada's First Nations by modernizing the systems in which they manage and engage their personal finances. Working with the most trusted financial and technology companies in Canada, FirstPeoples Financial will offer innovative products and services that are engineered to help grow economies and help improve the quality of life for the First Nations in Canada.

The company is headquartered in Winnipeg, MB. To find out more about FP Financial Ltd. and their other value-added community services, visit their website at www.fpfinancial.ca