Peppermint Innovation September 2016 Quarterly Review and Appendix 4C

31 October 2016, ASX Announcement

Peppermint Innovation Ltd (ASX: PIL) (the Company or Peppermint) has today lodged its Appendix 4C Report for the period ended 30 September 2016 and is pleased to provide a review of its progress for the quarter.

Highlights:

• Named by Forbes Philippines as one of the Top 24 Fintech start-up companies in the Philippines.
• Strong revenue growth of 17% for the quarter, driven by a 20% increase in transaction volumes.
• UnionBank initiatives developed and implemented to drive account holder registration to its target of 2.5 million registered users to the UMobile app powered by Peppermint’s mobile banking and payments platform.
• On-boarding of Bayad Center billers commenced with 13 billers added during the quarter.
• Agent registration for the MyWeps app, powered by Peppermint’s mobile payments and remittance platform is ongoing with Peppermint assisting MyWeps to on-board agents, add new billers and progress the requirements of the market regulator to implement a pilot mobile remittance program for agents.
• Strategic partnership with UCPB Bank extends offering to include ‘Peppermint Fast Remittance System’ and international remittance capability
• The Company remains well funded, with over $1.61m of cash in the bank.
• International payments expert Mr Rod Tasker appointed as Non-Executive Director and Strategy Advisor, with immediate focus developing the Australian business operations.

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