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PEPPERMINT INNOVATION LIMITED - Corporate Spotlight

Peppermint Innovation Limited is a company focused on the commercialisation of a... Peppermint Innovation Limited is a company focused on the commercialisation of a proprietary Mobile Banking, Payments and Remittance technology, designed for banks, mobile money operators, remittance companies, payment processors, retailers/merchants, credit card companies, and microfinance institutions.More

Corporate Spotlight

Peppermint Innovation Limited is a company focused on the commercialisation of a proprietary Mobile Banking, Payments and Remittance technology, designed for banks, mobile money operators, remittance companies, payment processors, retailers/merchants, credit card companies.
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PIL LODGES FIRST QUARTERLY SINCE RE-LISTING

PEL LODGES FIRST QUARTERLY SINCE RE-LIST

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Peppermint Innovation (ASX:PIL) lodges first quarterly since re-listing

Finance

ASX:PIL
Peppermint Innovation (ASX:PIL) - Managing Director & CEO, Chris Kain - The Market Herald
Managing Director & CEO, Chris Kain
Source: Business News

  • Peppermint Innovations (PIL) has posted its first quarterly report since re-listing on the ASX in February
  • It was a busy three months for the fintech company, launching bizmoProtect in partnership with Cebuana Lhuillier Insurance Solutions
  • PIL also signed an agreement with the Bank of the Philippine Islands (BPI) to allow its bizmo agents to top up their mobile wallets via BPI
  • Financially, Peppermint ended March 31 with $2.76 million in the bank after spending $540,000 on operating activities
  • The business also successfully carried out an oversubscribed capital raise to net PIL an extra $2.5 million in cash
  • For the rest of FY21, the company warned a recent outbreak of COVID-19 was hampering the Philippines recovery, but restrictions should ease by May




Peppermint Innovation (PIL) has posted its first quarterly report since re-listing on the ASX in February.


The company had a busy three months, launching its bizmoProtect micro insurance product in partnership with Cebuana Lhuillier Insurance Solutions.


PIL also signed an agreement with the Bank of the Philippine Islands (BPI) to allow its bizmo agents to top up their mobile wallets via BPI.


Commenting on the agreements, Peppermint’s Managing Director and CEO Chris Kain said he was excited to see the partnerships grow.


"Our ongoing partnership and business relationship with Cebuana Lhuillier has significant potential for our bizmoto agents and we look forward to capitalising on those opportunities offered via the micro-insurance distribution agreement and Merchant Biller agreement with Cebuana," he explained.


"Similarly, our API agreement with the Bank of the Philippine Islands not only provides our bizmoto agents with the ability to seamlessly top-up their mobile wallets 24/7, it gives Peppermint the opportunity to directly market its bizmoto platform to up to four million enrolled online account holders," he added.


"To put that in some context, we currently have just over 55,000 registered bizmoto agents. This deal gives Peppermint the right to directly market and explain how our bizmoto platform works to almost 80 times the number of current registered agents," he said.

Financially, Peppermint ended March 31 with $2.76 million in the bank after spending $540,000 on operating activities.


The business also successfully carried out an oversubscribed capital raise during the period, netting PIL an extra $2.5 million in cash to play with.


Peppermint plans to use the funds as additional working capital and to fund a target sales and marketing campaign for Peppermint's bizmoto platform.


For the rest of FY21, the company warned a recent outbreak of COVID-19 was hampering the Philippines' economic recovery.


However, lockdown restrictions are set to ease throughout May and PIL's MD said its products are well-placed to help users financially recover.


"We believe bizmoPay will help alleviate the unpredictability caused by COVID-19, where limitations on business operations throughout the Philippines and loss of jobs has impacted cash receipts in the March '21 quarter," Chris Kain explained.


Read the Full Article on The Market Herald here

PIL SIGNS API WITH BANK OF PHILLIPPINES

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Peppermint Innovation (ASX:PIL) signs fresh agreement with Bank of the Philippine Islands

Technology

ASX:PIL    

Managing Director & CEO, Chris Kain


  • Peppermint Innovation (PIL) has signed an application programming interface (API) agreement with the Bank of the Philippine Island (BPI)
  • The agreement will allow Peppermint’s bizmoto platform to integrate with the bank’s systems and protocols
  • The integration could introduce up to four million BPI online account holders to the services offered across the four bizmoto business streams
  • Technical integration and testing between Peppermint's platform and BPI's systems will begin as soon as possible — with a Q2 2021 targeted launch date
  • Peppermint Innovation is up 8.82 per cent, trading at 3.7 cents

Peppermint Innovation (PIL) has signed an application programming interface (API) agreement with one of the top five banks in the Phillipines.

The agreement with the Bank of the Philippine Islands (BPI) allows Peppermint’s bizmoto platform to integrate with the bank’s systems and protocols.

Bank of the Philippine Islands is the first bank in the Philippines and in the south east Asian region with almost 170 years of continuous service and 8.8 million customers.

The agreement has the potential to introduce up to four million BPI online account holders to the services offered across the four bizmoto business streams. This includes mobile payments, eCommerce, delivery and logistics and mobile financial services.

Under the agreement, existing bizmoto agents will be able to top up their mobile wallet 24 hours a day, 7 days a week via online access.

As part of the agreement, Peppermint will also be undertaking a direct marketing campaign promoting bizmoto's wide range of customer services to BPI's four million enrolled online account holders.

"As soon as we can, we will execute targeted awareness and marketing campaigns in association with BPI to their four million online account holders,” said Peppermint Innovation’s Managing Director and CEO Chris Kain.

"To put that in context, we currently have over 50,000 registered bizmoto agents so we have the potential to market and explain how our bizmoto platform works to almost 80 times the number of current registered agents”.

 "This is yet another step forward on our path to building out our range of bizmoto ecosystem of services across the Philippines and to tackling the problem of providing inclusive financial services to the people of the Philippines.”

Technical integration and testing between Peppermint's bizmoto platform and BPI's systems will begin as soon as possible, with a Q2 2021 targeted launch date.

Peppermint Innovation is up 8.82 per cent, trading at 3.7 cents at 9:45 am AEDT.  


To read the full article on The Market Herald click here.

PIL SIGNS CONTRACT WITH CEBUAN LHUILLIER

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Peppermint Innovation (ASX:PIL) signs another agreement with Cebuana Lhuillier

Finance

ASX:PIL   
Peppermint Innovation (ASX:PIL) - Managing Director & CEO, Chris Kain - The Market Herald
Managing Director & CEO, Chris Kain
Source: Business News

  • Peppermint Innovation (PIL) has signed a merchant biller agreement with the Philippine's leading micro-financial services provider
  • The deal with Cebuana Lhuillier will allow bizmoto users to cash in money and top up their mobile wallet at any of the partner's 2500 stores
  • In return, Cebuana will earn a fee each time a user tops up, while PIL is set to earn a fee each time a user makes a transfer on bizmoto
  • This is the second agreement Peppermint has signed with Cebuana, following the two companies agreeing to team up on PIL's bizmoProtect insurance product
  • Today's agreement also further extends PIL's reach in the Philippines, after the fintech stock signed an agreement with the Bank of Philippine Island
  • Shares in Peppermint Innovations are trading steady at 3.4 cents

Peppermint Innovation (PIL) has signed a merchant biller agreement with the Philippine's leading micro-financial services provider.


The deal with Cebuana Lhuillier will allow PIL's bizmoto users to cash in money and top up their mobile wallet at any one of the partner's 2500 shop fronts and accredited stores.


In return, Cebuana will earn a fee each time a user tops up while Peppermint is set to earn a fee each time a user makes a transfer on bizmoto — the company's mobile banking product.


This is the second agreement the fintech stock has signed with Cebuana, with the two companies agreeing to team up on PIL's bizmoProtect insurance product.


Additionally, today's agreement also further extends PIL's reach in the Philippines, after the company signed an agreement with the Bank of Philippine Island last month.


Under this application programming interface agreement, Peppermint’s bizmoto platform is being integrated with the bank’s systems and protocols.


"This agreement with Cebuana significantly increases our geographic spread for 'cash-in' points for our bizmoto agents, making it convenient and more accessible for our bizmoto agents to 'cash-in' to their mobile wallets," PIL CEO Chris Kain said.

"The Cebuana agreement also extends Peppermint's business alignment and partnership with the Philippine's largest and leading micro-financial services provider and follows our bizmoProtect distribution and micro-insurance product offering announced in early March 2021," he added.


To read the full article on The Market Herald click here.

PIL SHARE PRICE SOARS PLATFORM POTENTIAL

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Peppermint Innovation’s (ASX:PIL) share price soars as market realises platform potential

ASX:PIL    
Peppermint Innovation (ASX:PIL) - Managing Director & CEO, Chris Kain - The Market Herald
Managing Director & CEO, Chris Kain

  • Peppermint Innovation's (PIL) share price soared 22 per cent yesterday as the market switched on to the potential of the fast-growing, largely untapped buy now, pay later (BNPL) market in Asia
  • Investors stood by and watched this BNPL contender soar from 2.85 cents per share to a lofty high of 3.3 cents at market close on Monday 
  • Peppermint has all the capability, market potential and key relationships to become the Afterpay (APT) of Asia, offering an end-to-end non-banking ecosystem for the unbanked and excluded in the South East Asian market 
  • Investors need only look to the success of fellow ASX-lister IOU Pay (IOU) to see the potential of this $27.23 billion market and the upside of this nimble market challenger


Peppermint Innovation's (PIL) share price soared 22 per cent yesterday as the market switched on to the potential of the fast-growing, largely untapped buy now, pay later (BNPL) market in Asia.


Investors appear to have made the connection that this company shares the characteristics of some of the few successful buy now, pay later players which came before it, and didn't want to be late to the party.




Opening the day at 2.85 cents, buyers piled in to push up the stock to a lofty high of 3.3 cents — an impressive start for a company that only returned to listing on the ASX less than a month ago.


A fresh market player 

First and foremost, Peppermint is a non-banking, purpose-built mobile remittance, bill payments and eLoad platform that allows agents to effectively launch their very own mobile-based business. 


The agent model is unique to Peppermint and offers fast, low-cost and low-risk distribution, which is vital in an emerging market.

More broadly, however, it could be the Afterpay (APT) of Asia, allowing financial inclusion for the largely unbanked and excluded population of the Philippines.


Peppermint reports 90 per cent of Filipinos have no credit score, and 36 per cent of its municipalities have no access to banking facilities.


Enter Peppermint Innovation.



Peppermint Innovations' Executive Director & Chairman, Anthony Kain (left) & Managing Director & CEO, Christopher Kain (right).


Under the brand Bizmoto, this nimble player offers an end-to-end ecosystem that provides non-banking financial solutions in a market tipped to be worth $920 billion and growing.


Peppermint Innovation has an in-house network and distribution channel with over 51,438 registered agents that deliver its all-encompassing Bizmoto services, including mobile banking, mobile eLoad, bill and product payment and money transfers.


These agents have hit the ground running and generated over 1.5 million transactions and $2.8 million in cash receipts over FY20.

The company also estimates its agent network will grow upwards of 150,000 within 12 months.  


More broadly, Peppermint's offerings are available to those typically excluded from standard BNPL services, offering financial inclusivity.


In addition, this multi-faceted player has also entered the lucrative on-demand delivery and logistics market through bizmoGO — not only providing a service of convenience, but allowing individuals to effectively set up their own delivery business. In time, qualified riders will also be provided with financing to purchase the motorcycle for their business.


It's a branch that's quickly gained traction: launching in April 2019 with just 20 riders, it now touts 590 registered riders, all signed within the first 12 months, with food delivery being the most popular service to date. 


This isn't just another market darling with a story to tell: Peppermint has proven technology and proven engagement.


So, what next?


The eCommerce market in the Philippines is predicted to grow to $27.23 billion in 2025, with the consumer finance market valued at $40.72 billion and growing roughly 17 per cent annually. It’s clear that this is a market investors won't want to miss out on.  


If investors dare to dream and if Peppermint can continue on this upwards trajectory, it has all the key relationships, components and capabilities to evolve like fellow ASX-lister IOU Pay (IOU).


This BNPL player brought its own success to the table, touting a share price explosion from the start of February when it sat at 16 cents per share — two weeks later, it topped 70 cents.


Innovation is difficult, but when you have a proven offer with proven traction, the chances of success are certainly higher — meaning Peppermint is one to watch.


Read the full article on The Market Herald here.

ABOUT US

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ABOUT PEPPERMINT


Peppermint Innovation Limited is a company focused on the commercialisation of a proprietary Mobile Banking, Payments and Remittance technology, designed for banks, mobile money operators, remittance companies, payment processors, retailers/merchants, credit card companies, and microfinance institutions.


The focus of our initial efforts is in the Philippines, a country with a population of circa 100 million people and 105 million mobile phones in use, where over 4 years  has been spent  developing and integrating the technology which is currently being used by three leading commercial banks.


Peppermint aims to leverage a successful commercialisation strategy in the Philippines and build on established relationships in order to develop a commercial presence utilising the Mobile Banking, Payments and Remittance Platform further across Asia and beyond.


THE VISION


To provide mobile payments, money services and remittances to anyone and to anywhere in the world.


Read more about Peppermint Innovation here.

VIDEOS

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Peppermint Innovation (ASX:PIL) lodges first quarterly since re-listing


Peppermint signs agreement with Cebuana Lhuillier


Peppermint signs API agreement with Bank of the Philippine Islands


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