News and Announcements
Peppermint Innovation Signs with SUNMar to Bring Financial Services to the Philippines
- Published May 18, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Peppermint Innovation Ltd (ASX: PIL) is pleased to announce that it has signed a service agreement to provide its bill payment and eLoad services to SUNMarExpress Global Services Inc. (SUNMar), via a white-label mobile app, to be powered by Peppermint’s Mobile Bill Payments and eLoad Platform. SUNMar is a Filipino owned corporation that provides a range of products and services to its customers through its local partner branches, as well as a network of over 14,000 agents.
KEY TAKEAWAYS:
- Agreement signed with SUNMar Express Global Services Inc. (SUNMar), a Filipino company, to provide Peppermint’s Mobile Bill Payments and Buy eLoad platform to SUNMar and its network of business branches, partners and agents
- SUNMar currently has three bricks and mortar partner branches in key regional areas and 14,000 agent members nationwide
- The agreement extends Peppermint’s reach into new densely populated regional areas in the north and south of the Philippines
- An initial 3-month pilot of a SUNMar branded white-label app, powered by Peppermint, offering bill payments and eLoad services will commence immediately via SUNMar’s Tatay, Rizal partner-branch before rolling out to include branches in Koronadal City and Paracelis Mt. Province during the pilot period
- The pilot represents significant progress in the roll-out of Peppermint’s non-bank offering, as additional opportunities to expand distribution are pursued
The Agreement with SUNMar builds strong momentum in the roll out of the Company’s non-bank platform and follows the recent approval of the MyWeps mobile agent remittance pilot by the Philippine Central Bank in early March 2017, and the commencement of the MetroGas bill payment pilot earlier this month.
SUNMar President Jerome Antiporda, commented: “We are delighted to be working with Peppermint to enhance the offering that we bring to people in the Philippines, many of whom can only use cash to pay their bills. The development of a SUNMar app, powered by Peppermint is a big step towards the financial inclusion of many of our customers who are currently without bank accounts.”
Chris Kain, Managing Director & CEO comments: “Peppermint continues to focus on onboarding existing and new agent and partner networks to our purpose built Mobile Agent Remittance and Payments Platform and as such, we are excited to welcome SUNMar as a new partner. With the growth in our agent network set to continue, and as our network of agents commence remittance and payment services, the Company is looking forward to building transaction flow across the platform this year.”
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