Well the share price needed to let off steam. And here it has done just that.
No sooner did we speak ...
There's plenty to like about the Peppermint story, don't get me wrong. I'm not in the embittered camp (despite being galled by AK's share sale last year).
We're heading ever closer to December when MASS-SPECC's Pinoy Coop Mobile App is expected to go live, and with all those member co-ops and individuals suddenly having the convenience of Peppermint's mobile banking app and eWallet services available, this could go off like a bomb.
The economics of the partnership are very compelling for PIL, with the Company set to earn on average $0.10 for every completed transaction via the App - and that, in addition to revenues Peppermint will earn from delivering the App under licence, its deployment, and ongoing service & maintenance fees for up to five years.
Remember that up until August, MASS-SPECC processed cash withdrawals, bills payment and fund transfer transactions of Php 14.4 billion (circa $390 million) in value for Y2023.
Everyone, including the Philippines Central Bank, is keen to see the digital transformation of financial services succeed.
PIL Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
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