Peppermint to access over 1m Filipinos in tech deal
ASX listed fintech, Peppermint Innovation, has signed a potentially transformational service provider agreement with the largest cooperative federation in the Philippines. The deal brings more than one million potential Filipino customers into play for the Perth based financial payments APP provider. In a recent market update, Peppermint said it will develop a mobile financial services app and web tool for “MASS-SPECC”, the oldest cooperative federation in the Philippines, encompassing more than 300 affiliated cooperatives and one million individual members. MASS-SPECC is shorthand for the Mindanao Alliance of Self-Help Societies -Southern Philippines Educational Cooperative Centre, Peppermint said the app, to be known as the ‘Peppermint Conditional Cash Transfer Management System’, will […]
Peppermint sets sights on valuable remittance business for swift acquisition
Fintech company and aspirational banking disruptor Peppermint Innovation (ASX: PIL) has signed an exclusive option to acquire international remittance business AusRemit Pty Ltd, currently trading as RemitWisely. The “particularly attractive” acquisition price in comparison to similar transactions elsewhere in the fintech sector was cited as a key reason for Peppermint to proceed with the deal at the current time. RemitWisely is currently progressing an “aggressive growth strategy” to add new remittance “corridors” as part of its remittances service offering to more than 200 countries globally. Peppermint has obtained exclusive rights to acquire the entirety of AusRemit for a purchase price comprising of shares and cash, on a 50/50 split. The […]
Peppermint entering lucrative international remittance market
Peppermint has created a wholly owned subsidiary, Peppermint Payments Pty Ltd (PPPL) to provide international remittances in the Australian market. Reflecting Australia’s history as a “land of immigrants”, this market is already large and growing faster than GDP, but supply has been shrinking due largely to increased compliance requirements. PPPL is registered with Austrac as both a remitter and a remittance network provider, and our AML/CTF program has been approved by our Australian bank. PPPL will use the brand “BIZMOTO” which is being trade-marked in both Australia and the Philippines. Agreements have been signed with multiple providers reflecting a carefully planned “best of breed” approach and architecture. Emphasis on proven […]
Peppermint tech trials a winner with Filipinos
Real-time testing of Peppermint Innovation’s mobile-phone bill payment technology is delivering significant customer insights that will assist the ASX-listed fin-tech company to fully commercialise its unique APP. During the past few months, almost 500 representative agents of Filipino businesses MyWeps, Metro Gas and SUNMar Express have been conducting ‘live’ pilot programs with their customers to help improve Peppermint’s mobile platform.At present, 70 per cent of Filipinos do not operate a bank account and millions of Filipinos receive their weekly wage in cash. They are forced to physically pay their bills in cash, causing them to travel great distances across town to ensure all of their household bills are paid. Peppermint’s […]
Peppermint enter lucrative gateway services market
ASX listed fin-tech player Peppermint Innovation’s rollout of its unique technology platform has taken a big step forward after the Perth-based company struck a further deal with UCPB, one of the Philippines’ largest banks. Peppermint, who are currently focused on the commercialisation and development of their mobile-phone based bill payment technology said they had inked a deal with UCPB to roll out internet payment “gateway services” in the Philippines for the giant lender. UCPB’s online mobile banking system is already powered by Peppermint technology and the latest deal relating to gateway services represents an extension of the commercial relationship between the two parties. UCPB’s internet payment gateway, facilitated by Peppermint, […]
Peppermint tech deal with 200,000 strong Philippines distribution network
Perth-based tech company Peppermint Innovation has received a significant boost as it marches towards full commercialisation of its mobile payments technology. The company announced yesterday it had signed a deal with burgeoning Philippines multi-level marketing distribution firm, Sante Barley. Under the deal, Sante Barley’s 200,000 strong network of agents will be able to accept money from their own networks of people and customers who wish to pay their household bills, transfer money to others or even load up some mobile phone air time. Sante Barley agents will use Peppermint’s proprietary, non-bank, mobile payments and remittance technology to do this and both Sante Barley and Peppermint will share a fee each […]
Peppermint secures strategic investment at a premium
Peppermint Innovation Ltd (ASX: PIL) announce a strategic placement agreement has been executed, for the investment of $1,000,000 at 2 cents per share via a placement of 50,000,000 shares in the Company, with an option to place a further $1,000,000 at a 25% premium to 5 day VWAP within 60 days from the first placement. The placement agreement has been executed between the Company and Smidge Digital Unit Trust, an Australian special purpose investment vehicle that subscribes for minority positions in innovative fintech and enterprise data analytics companies. Chris Kain, Managing Director & CEO comments: “This is a significant relationship with a strategic investor who has an intrinsic […]
Peppermint’s Mobile Bill Payments platform commences under its agreement with Metro Gas
Peppermint Innovation Ltd is pleased to announce pilot testing of its agent mobile bill payments technology has commenced under its agreement with Metro Gas Sales Inc. (Metro Gas). Metro Gas delivers Liquid Petroleum Gas (LPG) to over 60,000 Filipino households, via an established network of 50 delivery personnel, who on average make 15-20 deliveries a day, 7 days a week. The pilot will test Peppermint’s purpose built mobile agent payments platform, with Metro Gas delivery personnel using the Peppermint powered Metro Gas Agent App to offer customers the ability to pay household bills at the time a delivery of LPG is made. The offering will provide customers’ with front door […]
