Peppermint Bizmoto has signed an incredibly significant agreement with the Philippines’ largest regional cooperative federation – MASS-SPECC Cooperative Development Center – for its 1.6 million members to use Bizmoto’s Electronic Money Issuer (EMI) financial services.
The agreement will allow MASS-SPECC members/users to be able to access Bizmoto’s EMI financial services, such as transferring money from a co-op member’s Bizmoto wallet to another bank account via InstaPay or PESONet.
Additionally, Bizmoto’s EMI financial service will provide a convenient and safe means of completing “cash-in” and “cash-out” transactions aside from MASS-SPECC’s ATM’s.
MASS-SPECC co-op members will also be able to access Bizmoto’s e-wallet financial services such as bills payment, including the collection of payment for local billers, electronic load and the release of co-op loans.
As part of a dedicated digital transformation program, MASS-SPECC aims to onboard circa 480,000 members and more than 100 of its 335-member cooperatives in the first 12 months.
Further growth is forecast in the second and subsequent years, creating a significant opportunity to provide all new cooperative members with the ability to access Bizmoto’s EMI financial services.Peppermint’s MD & CEO, Chris Kain
The two institutions are also in talks to work together on promoting co-op products and services through the Bizmoto Digital Community, which aims to build a particular network under the BizmoTinda and BizmoGo digital services.
MASS-SPECC is optimistic this partnership with Peppermint Bizmoto Inc. will ultimately contribute to the realisation of the cooperative movement’s vision, that “All Members Enjoy a Better Quality of Life.”MASS-SPECC’s CEO, Bernadette O. Toledo
Keen to learn more?
Keep reading about this agreement and find the full-length ASX announcement by clicking the button below.
Read how Stockhead reported our agreement with MASS-SPECC
For further insights about what this means for Peppermint Bizmoto and MASS-SPECC, take a look at Stockhead’s article.
Read how Australian Fintech’s report on this news
Learn more about Australian Fintech’s news report about this exclusive agreement.