December 2022 Quarterly Activities Report and Operational Update
Peppermint Innovation is pleased to deliver its Quarterly Activities Report and Operational Update for the period ended 31 December 2022.
Key Achievements
Peppermint’s key achievements during the October – December period included:
- Signed exclusive five-year agreement with Philippines’ largest regional cooperative, MASS-SPECC, for its 1.6 million members to use Electronic Money Issuer (“EMI”) financial services via Peppermint’s bizmoto platform
- Continued to develop strong relationships with strategic partners with the aim of signing-up additional EMI financial service agreements to use Peppermint’s bizmoto platform
- Progressed plans to issue Visa pre-paid & debit cards to bizmoto users that are directly tied to a bizmoto wallet
- Worked on developing strategic partnerships and alliances to broaden Peppermint’s operational area, with a primary focus on the ASEAN region.
- Launched bizmoKarte pilot – a unique financial literary knowledge sharing platform aimed at helping individuals & small-to-medium size business owners become more confident and successful in managing financial matters
- Rebranded bizmoPay to bizmoLoan and worked on developing a broader range of loan products to assist Filipinos access non-bank finance
- December ’22 Quarter revenues increased circa 40% on previous quarter
- Ended December ’22 Quarter with $4.3 million at bank
Announcement Summary
2022 was truly a transformational year for Peppermint with the award of our EMI licence, our partnership with Visa and signing our first EMI services agreement with the Philippines’ largest regional cooperative, MASS-SPECC.
MD & CEO, Chris Kain
During the year and throughout the December quarter we undertook significant technology improvements to our bizmoto mobile platform, as well as integrating functionalities for InstaPay and PESONet and onboarding other entities such as ECPay, GCash, Paymaya, 7-Eleven, and the Bank of the Philippines.
These commercial agreements, App refinements and platform integrations have been part of Peppermint’s ‘reset’ strategy and they each present the Company with significant growth opportunities as we head into 2023.
Already, our revenue numbers for the December quarter delivered some ‘green shoots’ with a circa 40% increase on our previous period.
In 2023, we aim to capitalise on our achievements from last year by identifying additional strategic opportunities to create partnerships to increase bizmoto user and platform engagement
