Ann: Half Yearly Report and Accounts, page-2

Given the economics of the MASS-SPECC partnership, the below highlighted snippet is interesting - workers soon to be onboarded directly into the heart of the bizmoto ecosystem:



MASS-SPECC

HY 2023 delivered significant milestones under the MASS-SPECC Cooperative Development Center ("MASS-SPECC") Partnership Agreement. Live testing of the Pinoy Coop App in the Google App Store in early December 2023 came just months after Peppermint signed a strategic 5-year partnership agreement with MASS-SPECC to deliver end-to-end services for the App, via white-labelling the Company's Electronic Money Issuer ("EMI") wallet and mobile banking application.

Agricultural cooperatives are preparing to onboard farm workers who will have their salaries credited to their bizmoto account in the Pinoy Coop App, possibly leading to the utilisation of other bizmoto financial services. During 'live' testing of the App (with a small number of MASS-SPECC users) from early December ’23 to mid-January ‘24, almost one million pesos transacted by various meansPeppermint Innovation Limited Appendix 4D 31 December 2023 4including fund transfers, bill payments, eload and 'cash-in'. The economics of the MASS-SPECC partnership are very compelling for Peppermint. The Company is forecast to earn on average 10c for every completed transaction via the Pinoy Coop App which is in addition to revenue the Company will earn from delivering the App under licence, its full deployment and ongoing service and maintenance for up to five years.

Phase 1 of Peppermint's Strategic Partnership Agreement with MASS-SPECC allows for Pinoy Coop App users to complete 'cash-in' and 'cash-out' transactions, transfer funds directly between the Pinoy Coop Mobile wallet and Pinoy Coop ATM accounts, as well as access other financial services such as bill payment, eLoad for phones or transfer funds to another bank account or EMI wallet via InstaPay and PESONet.

Phase 2 of the agreement provides for Peppermint and MASS-SPECC to 'exert best efforts' to discuss and agree on the integration of other Bizmoto services such as, but not limited to, Loan Application, Monitoring of Loan Application, Coop Service Logistics/Appointment, QR code PH functionality, domestic and international remittance and e-wallet service connection for other Co-operative federations. It also provides for both parties to discuss possible collaboration around other proprietary Bizmoto services such as, but not limited to, BizmoLoan, BizmoTinda and BizmoGo.


Also encouraging to read:

Continued marketing and promotion of bizmoto platform attracted more bizmoto users, totalling more than 80,000 by end of HY23