MONTREAL, March 15, 2005 (PRIMEZONE) -- Peoples Trust, DM2 Technology Inc. (Pink Sheets:FLST), Mint Technology Corp. (TSX-V:MIT) and MasterCard International announced today that they have entered into a pilot agreement to issue MasterCard Prepaid re-loadable cards over the next year.
A MasterCard Prepaid card enables its user to store or set aside money in a financial account that can be accessed for purchases wherever MasterCard is accepted, including the Internet and ATM cash withdrawals. Mint and Peoples Trust are jointly the first organizations to market a prepaid MasterCard card product in Canada. Working with DM2 Technology, this pilot agreement represents the first undertaking by an Independent Sales Organization (ISO) in selling a prepaid MasterCard card product.
DM2 Technology plans to focus on the Quebec market by selling the DM2 branded Prepaid MasterCard to its client base made up primarily of small and mid-size merchants. DM2 Technology has the worldwide rights to the DM2 branded Prepaid MasterCard and will be able to sell it worldwide after the successful completion of this pilot agreement.
Horizon Plus Card Services Ltd, an affiliate of Peoples Trust, is the managing agent for the MasterCard prepaid card programs issued by Peoples Trust, a Principal member of MasterCard, and will be responsible for card issuance. "The purpose of this pilot is to test Prepaid re-loadable MasterCard cards in Quebec to assess the opportunity for a more widespread issuance of cards. DM2 has an extensive sales force in Quebec that will greatly assist our market reach." stated Robert Pain, VP of Horizon Plus Card Services. Mint will leverage its electronic payments platform to offer services and features to support the prepaid card. "This unique and exciting product initiative is focused on a vibrant market segment," commented Frank Maduri, President, Mint Inc., "Our expertise in payment systems and applications is being applied fully to support this distribution initiative."
About Peoples Trust Company
Peoples Trust of Vancouver, BC has become a very successful provider of financial services by combining price competitive products with truly exceptional customer service and support. They maintain a unique and enviable position among Canada's financial institutions as a result of long-term profitability, steady asset growth and the ability to perform above and beyond customers' expectations.
About DM2 Technology
DM2 Technology is a wholly owned subsidiary of Financial Access Solutions Technology, Inc. (Pink Sheets:FLST). The company is publicly listed and traded on the Pinksheets under the symbol FLST. DM2 Technology specializes in the sale of POS (point of sale) equipment and software to handle bankcard and credit card payments. DM2 Technology has been in the business of handling Interac and Credit Card transaction payments since the government of Canada deregulated this market. At present, DM2 has terminals in retail outlets in every province except for Newfoundland and PEI. DM2 has a growing list of corporate clients and strategic partners such as Rogers Wireless Communication, Dynacard Capital, Ingenico, Lipman, Datawest, CIT, BCE Emergis, Datawest, EasyHome, and Teleplus.
About Mint Technology Corp.
Mint Technology Corp. provides electronic transaction solutions that streamline the entire procurement and payment process to deliver time and cost savings, better security, reduced fraud exposure and improved revenue management abilities for clients. It markets its products and services through its wholly-owned subsidiaries, Mint Inc. and Mint Commerce. Mint Inc. concentrates on customer facing solutions enabling payment transactions through a variety of devices that include cell phones, magnetic cards and radio frequency transponders. Businesses and consumers can easily complete and track transactions, better manage prepaid accounts and internet purchases, and consolidate loyalty applications through one primary profile. The company is headquartered in Toronto, Ontario, and began trading publicly on January 21, 2004. To find out more about Mint Technology Corp. (TSX-V:MIT), visit the website at www.mintinc.com.
About MasterCard International
MasterCard International is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members' credit, deposit access, electronic cash, business-to-business and related payment programs. MasterCard International manages a family of well-known, widely accepted payment cards brands including MasterCard(r), Maestro(r) and Cirrus(r) and serves financial institutions, consumers and businesses in over 210 countries and territories. The MasterCard award-winning Priceless(r) advertising campaign is now seen in 96 countries and in 47 languages, giving the MasterCard brand a truly global reach and scope. For more information go to www.mastercardinternational.com.