Peppermint Innovation (ASX:PIL) obtains an EMI license in the Philippines – The Market Herald

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  • Peppermint Innovation (PIL) has been licensed to operate as an Electronic Money Issuer (EMI) by the Central Bank of the Philippines
  • The EMI license allows the company to provide e-wallet services through its “bizmoto” mobile app, allowing any Filipino to use the platform to receive digital money.
  • Additionally, the EMI license greatly expands the company’s ability to reach micro-entrepreneurs and provide digital payments to their businesses.
  • The company will soon begin working on a pilot program with a local community to facilitate financial inclusion by encouraging members to become bizmoto users so they can immediately access digital and mobile payments.
  • PIL shares are up 17.7% in the market this morning and are trading at two cents per share

Peppermint Innovation (PIL) has been licensed to operate as an Electronic Money Issuer (EMI) by the Central Bank of the Philippines.

The EMI license authorizes the company to provide e-wallet services through its “bizmoto” mobile application, allowing any Filipino to use the platform to receive digital cash and access digital services in the Philippines.

Additionally, the EMI license greatly expands the company’s ability to reach micro-entrepreneurs and provide digital payments to their businesses who can also apply for bizmoPay loans and future bizmoto platform products and services.

Managing Director and CEO Chris Kain said the EMI license is one of the company’s goals that “affirms the company’s three-phase business strategy”.

“Clearly, the digital revolution is with us and the bizmoto platform can now facilitate any e-money transaction and maintain open-loop e-wallet accounts, providing Filipinos with a convenient and secure way to receive money. and digital services.”

Peppermint aims to connect marginalized Filipinos such as farmers, fishermen, and micro-small and medium-sized entrepreneurs, as well as people living on hand-to-mouth paychecks so they can safely and more quickly receive their salaries, pension, social security benefits and other government financial assistance funds.

“Every Filipino has the ability to access a wide range of goods and services from the bizmoto platform, as well as apply for a bizmoPay loan, which is paid directly to their bizmoto e-wallet to enable seamless transactions in the bizmoto ecosystem,” said Mr. Kai said.

“Peppermint is committed to digital financial inclusion by providing digital access to services that benefit the unserved and underserved population and contribute to the continued increase in digital currency adoption across the Philippines .”

The company will soon begin working on a pilot program with a local community to facilitate financial inclusion by encouraging members to become bizmoto users so they can immediately access digital and mobile payments as an alternative to cash transactions within of their community.

Shares of PIL are up 17.7% in the market this morning and are trading at two cents per share as of 10:41 a.m. AEST.

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