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, will enable the bank’s corporate account holders to make payments online and in real time, management told the ASX this week.
Peppermint’s main technology platform, currently being rolled out in the Philippines, is designed for a myriad of financial functions including mobile banking, money transfers, online recharging of telephone accounts and bill payments.
The company is now looking to leverage its existing, in country banking relationships to develop a foot hold in the lucrative “gateway services” market.
Gateway services refers to a theoretical electronic “gateway” that money passes through to get from one person or entity to another.
Peppermint will charge a fee for every transaction that passes through their theoretical gateway.
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Source: Peppermint enter lucrative gateway services market | The West Australian
