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Peppermint Innovation (ASX:PIL) - CEO and Managing Director, Chris Kain
CEO and Managing Director, Chris Kain
Source: Chris Kain/LinkedIn
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  • Fintech company Peppermint Innovation (PIL) has signed an initial one-year agreement with Philippines-based online payment company Dragonpay
  • PIL’s bizmoto platform will become a merchant within Dragonpay’s platform, giving it access to Dragonpay’s network of banks, EMI-wallet providers and payment centres
  • Consequently, bizmoto agents, merchants and bizmoGo riders can get payments from any customer using Dragonpay which expands their digital payment options
  • Implementation planning will begin shortly and the companies aim to ‘go-live’ date in the first quarter of 2022
  • PIL’s shares are up 17.7 per cent to trade at 2 cents

Peppermint Innovation (PIL) has signed an agreement with one of the Philippines’ largest and most reliable online payment gateway platforms, Dragonpay.

The initial one-year deal provides bizmoto agents with a one-stop payment gateway, connecting the bizmoto network and ecosystem of services to a variety of online and over the counter cash-in and payment channels throughout the Philippines.

The agreement allows Peppermint’s bizmoto platform to become a merchant within Dragonpay’s platform and therefore gives it immediate access to Dragonpay’s network of banks, electronic money institution (EMI)-wallet providers and remittance/payment centres to undertake cash-in, transfers and payments.

This deal means bizmoto agents, merchants and bizmoGo riders will now be able to receive payments from any customer using Dragonpay which significantly expands the digital payment options for bizmoto customers.

Peppermint Managing Director and CEO Chris Kain said this agreement is a “huge deal”.

“This is a huge deal for Peppermint and will allow any bizmoto agent to immediately start collecting digital payments from any customer that is connected to Dragonpay’s extensive network of partners,” he said.

“This strengthens a bizmoto agents’ ability to provide a service and directly collect payment via digital settlement from a customer in real time, which is significant given the growing digital payment trend in the Philippines.

Additionally, bizmoto agents, riders and merchants can now tap directly into Dragonfly’s network and use it as cash-in points. This will make the cash-in process even more convenient for our agents, riders and merchants and, therefore, should encourage them to use the bizmoto platform more frequently.”

Peppermint doesn’t earn direct revenue from this but will earn a system fee for every transaction made across the bizmoto platform.

Implementation planning will begin shortly and the companies aim to ‘go-live’ date in the first quarter of 2022.

PIL’s shares were up 17.7 per cent to trade at 2 cents at 1:33 pm AEDT.

PIL by the numbers
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