Real-time testing of Peppermint Innovation’s mobile-phone bill payment technology is delivering significant customer insights that will assist the ASX-listed fin-tech company to fully commercialise its unique APP.
During the past few months, almost 500 representative agents of Filipino businesses MyWeps, Metro Gas and SUNMar Express have been conducting ‘live’ pilot programs with their customers to help improve Peppermint’s mobile platform.
At present, 70 per cent of Filipinos do not operate a bank account and millions of Filipinos receive their weekly wage in cash. They are forced to physically pay their bills in cash, causing them to travel great distances across town to ensure all of their household bills are paid.
Peppermint’s mobile technology APP, which is currently being rolled out in the Philippines, is designed to make life easier for Filipinos by offering a range of financial transactions including mobile banking, money transfers, online recharging of telephone accounts and payment of household bills.
So far, the pilot testing has identified some improvements to user-friendly functionality as well as a few practical issues, such as making sure a customer is at home when a Metro Gas agent makes an LPG delivery so they are able to assist them to pay their household bills.
Peppermint Innovation’s Managing Director Chris Kain said the live testing with MyWeps, Metro Gas and SUNMar was providing valuable feedback and insight into the operations and requirements to make its mobile payment platform a success.
Mr Kain said news of the real-time testing programs had also contributed to Peppermint’s recent partnership agreement with Sante Barley, one of the fastest growing distribution networks in the Philippines with 200,000 agents.
“Subject to regulatory approvals, Sante Barley will offer a white labeled non-bank mobile payments and remittance platform, powered by Peppermint Innovation, for use by its distribution network,” he said.
“Our business continues to evolve in exciting ways, as highlighted by recent agreements with leading Filipino Health Co-operative CHMF and UCPB, which is one of the Philippines’ largest banks, to provide internet payment gateway services, and the ongoing establishment of the Australian Business Unit’s international remittance business.”.
“We are now well positioned with strategic investment partners to fund our growth and harness expansion opportunities that build on and drive Peppermint’s innovative mobile banking and remittance payment platform.” Said Mr Kain.
