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Peppermint Innovation rolls out new remittance solution in Philippines

The app will allow unbanked Filipinos to pay bills and transfer funds.

The pilot will take place over a three-month period

Peppermint Innovation (ASX:PIL) has commenced the commercial pilot of the MyWeps Mobile Remittance app in the Philippines, powered by Peppermint’s Mobile Agent Remittance platform.

The app was developed in partnership with MyWeps International Inc.

MyWeps app will allow the large unbanked Filipino population to pay bills and transfer funds by providing cash to a mobile agent armed with a mobile phone and the MyWeps App.

Taking place over a three-month period, an initial cohort of 278 MyWeps agents will commence the pilot with the remaining agents; 500 in total, to be on-boarded shortly.

The pilot will take place across the National Capital Region (NCR), key regional areas plus six specific municipalities in provinces identified as marginalised or underserved.

MyWeps agents will utilise the app to provide remittance, bill payment and eLoad services to their customers without the need for a bricks and mortar presence.

The pilot is expected to provide insights into how agents adopt and promote the use of this service to their customers, and to provide feedback on enhancements to the platform if necessary.

Prior to the conclusion of the pilot, Peppermint will work with MyWeps to establish the next steps towards the commercial rollout of the MyWeps app and Peppermint’s non-bank platform.

Peppermint’s non-bank platform is an initiative to provide innovative technology for about 70% of the Filipino population who are unbanked.

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