Cashed up Peppermint launches new platforms ahead of electronic money licence in the Philippines

Peppermint had a productive quarter despite the pandemic restrictions in the Philippines. The company is set to launch new integrated platforms in the next quarter as it awaits the approval of an electronic money licence.

Fintech company Peppermint Innovation (ASX:PIL) has had a very productive last quarter, as it moves along an exciting phase of growth.

During the quarter, the company launched the ‘Phase 1′ commercial roll-out of its bizmoPay micro-enterprise loans platform in the Philippines.

The launch came following a regulatory licence approval in July, and an extremely successful three-month pilot program designed to test the platform.

Peppermint has also received a crucial notice from the Philippines regulator to proceed to Stage 3 of its Electronic Money Issuer (EMI) License application.

An EMI  licence provides the opportunity for Peppermint to facilitate any e-money transaction in the Philippines, which could effectively turbocharge its capabilities in the digital transaction space, particularly when combined with the loans it’s already able to make.

To progress the EMI licence application, Peppermint successfully raised $5m in November, with a placement to sophisticated and professional investors at 2c a share.

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Source: Cashed up Peppermint launches new platforms ahead of electronic money licence in the Philippines – Stockhead