News and Announcements
Peppermint Revenue Up 25%, 5.6m Transactions Reached & Awarded Fintech Australia Award
- Published August 09, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Peppermint Innovation Ltd is an Australian company listed on the ASX which is focused on the commercialisation and further development of the Peppermint Platform, a mobile banking, payment and remittance technology. The company is pleased to release its progress for the quarter.
KEY TAKEAWAYS:
- Strong operational traction towards commercialisation of Peppermint’s non-bank mobile payment and remittance platform:
- MyWeps and Metro Gas have commenced and are progressing well, with early efforts focused on developing platform enhancements to assist with commercial adoption.
- Agreement with SUNMar to conduct a 3-month pilot of Peppermint’s white labelled bill payment and eLoad services commenced.
- 49 Bayad Center billers are now live on the Peppermint platform, 4 are awaiting on-boarding post testing, and a further 10 are in testing phase.
- Continued growth of Peppermint’s mobile banking and payments platform:
- Revenue of AUD$330,590 up 25% on prior quarter
- Registered users of 237,054 up 9% on prior quarter
- 5.6 million transactions, for the quarter
- Awarded a FinTech Australia award for Excellence in Financial Inclusion (social good)
The team at Peppermint is extremely pleased with the strong operational progress made in this past quarter. The launch of MyWeps, Metro Gas and SUNMar pilots are significant achievement for the Company as it continues to focus on promoting financial inclusion in the Philippines by working towards the commercialisation of its non-bank platform. This is the major focus of Peppermint’s efforts where it is pioneering innovative technology that offers accessible financial services to the circa 103 million people of the Philippines.
Chris Kain, Managing Director commented: “The preliminary results from MyWeps, Metro Gas and SUNMar pilots provide strong validation of the need for our platform and the value it provides to the Filipino people. We are pleased with the progress made with our non-bank offering, with the provision of technologically enabled services which promote financial inclusion in the Philippines, the primary objective of Peppermint. We continue to work towards a future full scale commercial rollout of our non-bank platform.”
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