Yep. That's way I'm reading it to. New agreement reset as it...

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Brewstex

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16/09/23

13:01

Post #: 69884459
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Originally posted by Nowhere Man: ↑

Yes, an odd announcement, given its sense of déjà vu.

Perhaps the start date of the 5-year partnership with MASS-SPECC has been re-set to September 2023 rather than, as it was originally, October 2022?!!

But then if so, that could've been far more clearly stated.

In any case, we're given some numbers here (if, sadly, not an actual 'going-live' date) that weren't included the the 19 October 2022 Announcement, and which are quite encouraging:

- PIL will receive ~$280,000 in bizmoto managed services, support & maintenance fees (can we assume they're recurrent?);
- Peppermint will earn an average $0.10 for every transaction completed via the Pinoy Coop Mobile App;

And as an indication of what that might mean for PIL:

- MASS-SPECC has processed cash withdrawals, bills payment and fund transfer transactions of Php 14.4 billion (circa $390 million) in value up to August for year 2023.

So the prize of electronically transacting for MASS-SPECC's 343 member co-ops with approximately 1.6 million individual members remains intact for PIL.

In fact, it's better than that, because "Phase 2" is about expanding on the basic electronic service to integrate all the other Bizmoto services as well - Loan Application, Monitoring of Loan Application, Co-op 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 BizmoLoan, BizmoTinda and BizmoGo.

From MASS-SPECC's point of view it does seem they're excited to be getting their digital transformation under way. And I note from the MASS-SPECC CEO's comment, speaking of "a highly productive partnership in the days ahead", perhaps we don't have too much longer to wait.

Who knows, maybe the December deployment is just a cover all.

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Yep. That's way I'm reading it to. New agreement reset as it appears that PIL are now in control of deploying the app.

The big takeaway from this announcement for me is this new wording from PIL compared to the original announcement in 22.

MASS-SPECC has processed cash withdrawals, bills payment and fund transfer transactions of Php 14.4 billion (circa $390 million) in value up to August for year 2023.

So has the big picture all of a sudden greatly expanded with this new Strategic partner agreement. I mean is the plan now for PIL's bizmoto services in time going to supersede all Mass Specc's current processing structure. (Don't know, but that would be nice)
PIL received an integration payment of around $40,000 in the first agreement, now they are getting around $280,000 in bizmoto managed services, support & maintenance fees, so apart from PIL now taking on control of the end-to-end execution of the mobile technology solution, what else does this payment tell us.

Sounds like Mass Specc is totally on board with PIL.

PIL Price at posting: 0.8¢ Sentiment: Buy Disclosure: Held
7 Upvote

1 Great analysis

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