Peppermint CEO Chris Kain was recently interviewed by online media company, Stockhead, following lodgement of the Company’s 2021 Annual Report and Appendix 4E.
He told Stockhead that being granted a financial lending licence by the Philippines’ Security Exchange Commission was a significant milestone in Peppermint’s overall business strategy to provide financial inclusions to millions of Filipinos.
“About 70% of the Filipino population is unbanked and many, many more are underbanked. However, about 86% of the Filipino population use their mobile phones to access the internet – giving you an immediate demand for mobile phone App based lenders and lending programs.
“This gives Peppermint’s micro-enterprise loan program – called bizmoPay – a significant impetus, with our lending focused on our established agents and eco-system, spanning a variety of services like payment, delivery and logistics and e-commerce.
“Our stated forecast is to issue up to 100,000 small micro-loans worth approximately A$30 million over the next 36 months under our ‘buy-now, pay-later’ bizmoPay agent/merchant model.
“We will also be looking to advance our stated objective around obtaining an electronic money issuer (EMI) license to further empower our mobile app based bizmoPay lending model and promote our bizmoto ecosystem of services to the wider Filipino population in-country and offshore.”
“Peppermint also intends to continue to develop its four business divisions via organic growth and strategic acquisitions.”
Read the full Stockhead article