Company Details

Peppermint Innovation Ltd (ASX: PIL)

ASX Listed
ASX Listed, Commercialisation

Company Information

  • Executive Summary

    Executive Summary

    Peppermint Innovation Limited is an Australian company that operates an established Mobile Phone Banking, Payments and Remittance Platform. The Company is focused on developing new and innovative mobile phone applications aimed at providing financial inclusion to the unbanked, enabling mobile e-money transactions to improve business efficiency and deriving revenue for commercial clients and agent networks, as well as facilitating convenience and ease of use to consumers.

    Peppermint is focused on the commercialisation of this proprietary Mobile Phone Banking, Payments and Remittance technology with our initial efforts concentrated in the Philippines, a country with a population of circa 100 million people and 114 million mobile phones in use. We have spent over 4 years developing and integrating our technology in the Philippines, and it is currently in use 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 Phone Banking, Payments and Remittance Platform further across Asia and beyond.

    1. Peppermint is well-established and operating in the Philippines where we have a highly experienced team in place, and strong technology and IP that meet all the requirements of the Central Bank of the Philippines (BNP).
    1. We have business in place with three of the top commercial banks in the Philippines since 2011 who are using our world-class software platform. USD$9.5m and four years of development have been invested in developing the platform. This part of the business is established and generating revenue.
    1. Peppermint Innovation is also focused on capturing part of the Philippines domestic remittances market. This is an AU$45 billion market in the Philippines alone each year. Peppermint Innovation’s purpose-built MyWeps mobile remittances application will offer the highest level of convenience, flexibility and the most competitive pricing available.
    • It is telco-agnostic. The Peppermint Platform is able to provide remittance and bill pay services to customers of any mobile phone carrier, as well as the added benefit of being able to sell mobile airtime for any carrier to any customer.
    • Mobile and convenient. Peppermint Innovation has tapped into an established network of 90,000 agents and 40 business centres, doing away with the need for bricks and mortar shopfronts and offering a completely mobile and convenient service.
    • Competitively priced: PIL will be entering the market with mobile, flexible and convenient offering that is highly competitive in price.
  • Company Highlights

    Company Highlights

    1. Initially addressing a domestic remittances opportunity of AU$45 billion market (annually) in the Philippines via Peppermint’s purpose-built My Weps remittance mobile payments application;
    1. Technology that is developed and deployed, and currently in use with three major Filipino banks as their account holder mobile banking and payment solution;
    1. A number of important partnerships in place, including with 1Bro Global, which provides Peppermint with access to a deep network of more than 90,000 agents and 40 business centres across the Philippines. These agents are completely mobile, providing a convenient and cost-effective method for making transactions and also purchasing mobile airtime;
    1. Signed a Memorandum of Understanding (MOU) with Norwood Systems Limited to  become the preferred  payment partner to provide payment methods  to Norwood Systems’  unbanked customers in developing markets;
    1. Signed an MOU with migme Limited, a global digital media company delivering social entertainment services to more than 30 million users in emerging markets, to explore the possibility of a Peppermint payment solution for migme customers in the Philippines;
    1. Listed on the Australian Securities Exchange on 4 December 2015, raising $3.87 million, with strong support from high net worth and domestic investors;
    1. The appointment of global payments expert, Dr Vincent Power, to the position of Non-Executive Director and International Business Development Executive on an equity earn-in incentive-based agreement, to drive profitability, and guide future international expansion, for Peppermint Innovation.
  • Board & Management

    Board & Management

    Christopher Kain

    Managing Director
    Practised Company Director with over 15 years’ experience in Finance and Investment Markets who is accomplished in identifying business opportunities and executing commercial strategies for the benefit of both stakeholders and investors. Mr. Kain has...

    Practised Company Director with over 15 years’ experience in Finance and Investment Markets who is accomplished in identifying business opportunities and executing commercial strategies for the benefit of both stakeholders and investors. Mr. Kain has specific expertise in investment evaluation, public and private capital raising programs, debt funding strategies and, project development and financing.

    Anthony Kain

    Executive Director
    Former principal and special counsel in local and national law firms, Anthony has over 20 years’ experience working in Australian capital markets. He has played a key role in the formation of numerous privately owned...

    Former principal and special counsel in local and national law firms, Anthony has over 20 years’ experience working in Australian capital markets. He has played a key role in the formation of numerous privately owned and publicly listed companies and has an in-depth understanding of intellectual property and its commercialisation. He also has considerable experience as a director and also a Managing Director of Australian Securities Exchange listed companies operating foreign assets.

    Matthew Cahill

    Non Executive Director
    Accomplished Technical Director with over 16 years’ experience in the Web Industry working across a broad range of technologies and has been involved in roles such as Management, Strategy, Team Lead, Business Analysis, Application Architecture...

    Accomplished Technical Director with over 16 years’ experience in the Web Industry working across a broad range of technologies and has been involved in roles such as Management, Strategy, Team Lead, Business Analysis, Application Architecture and Development.

    Dr Vincent Power

    Non Executive Director
    Dr Power is an International Payments specialist who has over 20 years of experience in the payments industry, extensive knowledge of global payments technologies and is well connected to strategic industry participants internationally.

    Leigh Ryan

    Non Executive Director
    Former Managing Director of Chrysalis Resources who is a geologist and currently engaged to manage the legacy mining exploration asset in Zambia.
  • Company News
  • Contact Details

    Contact Details