Proactive Investors - Run By Investors For Investors

Peppermint Innovation rolling out payment gateway services in Philippines

The company had raised $1 million earlier this month.
Agreement for an initial five-year period

Peppermint Innovation Ltd (ASX:PIL) has signed a key agreement with Philippines based United Coconut Planters Bank (UCPB) to roll out internet payment gateway (IPG) services in the Philippines.

The company raised $1 million earlier this month to support the rollout of its mobile banking platform for the unbanked in the Philippines.

The new IPG services will be powered by the Peppermint payment gateway platform.

Importantly, the new agreement will be in place for an initial five-year period and Peppermint will generate a fee each time a transaction or payment is processed using the IPG.

Initially, the IPG will be rolled out with two UCPB corporate account holders who will test it by making the IPG available to their customers, allowing them to make payments or transact online.

Peppermint’s mobile banking, payments and remittance technologies are designed for banks, mobile money operators, money transfer and funds remittance companies and payment processors.

Its MyWeps app is expected to allow the large unbanked Filipino population to pay bills and transfer funds by giving cash to a mobile agent armed with a mobile phone and the MyWeps App.

Peppermint’s share price increased circa 67% in the last three months and closed at $0.015 on Thursday.

View full PIL profile View Profile

Peppermint Innovation Ltd Timeline

Related Articles

An energy plant
August 13 2018
The exclusive contract will run its course for two years and includes a one -year extension option
The company expects to open its vault for even more cash takings
January 22 2019
Contracted revenues were $3.7 million last quarter but didn’t include Solo app sales for Samsung watches.
September 01 2018
The tech group is increasingly expanding its geographical reach and gaining traction in China

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use