Total
0
Shares
Peppermint Innovation (ASX:PIL) - Managing Director & CEO, Chris Kain - The Market Herald
Managing Director & CEO, Chris Kain
Source: Business News
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.

Peppermint Innovation shares are trading steady at 3.4 cents per share at 10:30 am AEST.

PIL by the numbers
More From The Market Herald
Strategic Elements (ASX:SOR) turns brain inspired hardware to robotics

" Strategic Elements (ASX:SOR) to begin feasibility and scoping study

Strategic Element (SOR) is set to conduct a feasibility and scoping study with the Defence Science and Technology Group (DST Group).
Laybuy (ASX:LBY) - Managing Director, Gary Rohloff (right) - The Market Herald

" Laybuy (ASX:LBY) appoints John Gillian as General Manager U.K. and Europe

Buy now, pay later provider Laybuy (LBY) has appointed John Gillian as General Manager U.K. and Europe.
Harmoney (ASX:HMY) - Managing Director and CEO, David Stevens (right) - The Market Herald

" Harmoney’s (ASX:HMY) April lending volumes bounce back 800pc

Online personal lender Harmoney (HMY) has reported its highest April originations in the company’s history.
humm group (ASX:HUM) - Group CEO, Rebecca James - The Market Herald

" humm group (ASX:HUM) boosted by strong BNPL performance over March quarter

humm group’s (HUM) buy now, pay later segment led the charge over the March quarter, meanwhile card volumes suffered under travel sector exposure.