Yes, strong response to the price query:PIL is of the view there...

Yes, strong response to the price query:


PIL is of the view there has been a lag in the market with respect to understanding the information presented in our last announcements. On 15 September 2023 Peppermint announced it had entered into a strategic partnership agreement to provide MASS-SPECC's Pinoy Coop Mobile App the full value of Peppermint's mobile banking application and eWallet services. MASS-SPECC is the oldest and largest regional co-operative federation in the Philippines, represented by 343 member co-ops with approximately 1.6 million individual members, many of whom reside in far-flung or remote areas.

This was significant as the announcement noted 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 and Peppermint was to work together with MASS-SPECC on a fee per transaction basis in the digital transformation of its co-operative members; the Pinoy Coop Mobile App was expected to be deployed in December 2023.

Further on 27 September 2023 Peppermint announced it had been issued with two vitally important Certifications by the Central Bank of the Philippines (Bangko Sentral ng Pilipinas - "BSP"). Peppermint had been working on the Certifications for some time and they marked an important milestone in Peppermint's strategy to fully leverage our Electronic Money Issuer ("EMI") licence and use it to drive revenue growth via increased transactions across the bizmoto platform. In the announcement our Managing Director noted the Certification facilitated bizmoto's complete and direct interoperability across the Philippines payment landscape, as well as emphasising the potential value of our EMI licenced platform. He also noted a comparison between a Philippines mobile-App based platform with an EMI licence called Coins.ph which was sold in early 2021 for US200 million, while Peppermint had a commercially proven, deployed and growing mobile-App based ecosystem in the Philippines underpinned by a Finance Company Licence and an EMI licence to be then valued at circa AUD$13M on the ASX.