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Mobile Payments

Peppermint Innovation to run mobile payment trial in Philippines

Wednesday 8 March 2017 | 01:10 PM CET

ASX-listed fintech company Peppermint Innovation has been granted approval to run a pilot of its mobile payments technology in the Philippines by the central bank of that country.

The company is trying to provide payment services to those who do not have bank accounts; about 75 million people in the Philippines fall into this category. The technology that the Australian company has developed will let Filipinos remit funds without an over-the-counter transaction.

The system being tested is called MyWeps Mobile Agent Remittance and it uses Peppermint's mobile remittance technology. The agent network that will use it is called 1Bro Global. More than 500 agents will take part in the pilot.

What`s more, the pilot is an initiative in support of the National Strategy on Financial Inclusion, which aims to provide financial services to those without bank accounts in the country.

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