it's good to read this article on PIL from the news.com.au...

it's good to read this article on PIL from the news.com.au posted on the 27th of june.
Peppermint up on expansion plans
JUNE 27, 20164:17PM

Shares in fintech company Peppermint Innovation gained ground today on news it is well placed to take advantage of the global mobile payments market which is expected to reach US$1.3 trillion over the next five years.
In a letter to shareholders, the company outlined its strong operational and financial position on the back of mobile banking, payments and remittance technology platforms and its expansion plans into key markets.
The Philippines, ranked third largest cross border remittance market globally at US$28 billion in 2015 by the World Bank, is one such market where Peppermint has already made significant inroads.
Peppermints mobile banking services platform is already being used by three of the countrys leading banks to offer mobile banking services to their account holders.
Managing director Chris Kain said this partnership represented a real growth opportunity for the company.
Recently we were informed of their intention to dramatically ramp up from the current 50,000 registered account holders to a far greater number of account holders to be registered on the platform over the coming 12 months and we look forward to informing the market of developments here, he said.
The companys MyWeps app is being rapidly commercialised through the 1Bro Global agent network to 90,000 agent members and 40 business centres throughout the Philippines, where the focus is to provide basic financial services to the enormous unbanked population.
Peppermint is also in discussions with the Central Bank of the Philippines on licensing the My Weps app which would see the 1Bro business centres becoming registered to process non-bank domestic remittances.
While its main focus is on the Philippines, Peppermint is seeking to expand into other remittance receiving countries most notably Bangladesh, the seventh largest remittance country globally valued at US$15 billion.
In Bangladesh, the company is seeking to expand its relationship with payments platform, 24Nme, which will provide Peppermint with valuable established relationships with regulatory bodies and banks.
Mr Kain said this market, combined with the Philippines meant Peppermint would have a presence in two key global international remittance corridors with a combined worth of US$44 billion.
In particular, mobile phone usage is anticipated to be the largest in the Asia Pacific region with an estimated 2.9 billion mobile phone users by 2017 compared to second place Europe with 728 million users expected by 2017.