Peppermint Innovation's PCM Wallet Launch in Tagum Co-Op Mobile App

Peppermint Innovation Ltd (ASX:PIL) has announced the launch of the Pinoy Coop Mobile (PCM) wallet within the Tagum Co-Op Mobile platform, marking a significant milestone in partnership with MASS-SPECC. The PCM digital wallet, powered by bizmoto, enables Tagum mobile users to conduct real-time fund transfers from their ATM accounts to the PCM wallet via Instapay. With Tagum boasting 181,196 members, over 100,000 mobile app downloads, 40,000 ATM card holders, and 18,000 active mobile app users, Peppermint aims to target Tagum's active users and ATM card holders, earning approximately 10 cents per transaction.

Peppermint's Managing Director and CEO, Chris Kain, on PCM Wallet Launch

The launch of the PCM wallet within Tagum Mobile is further validation of our partnership with MASS-SPECC. Tagum Coop is a significant cooperative in Mindanao and yet is just one of MASS-SPECC's 360 cooperatives representing some 3.4 million members who are the target users of the PCM app. It is worth bearing in mind that, MASS-SPECC's current ATM network has processed more than Php 10 billion (circa AUD$260 million) in cash withdrawals, bills payment, and fund transfer transactions across their entire Cooperative and membership base since December 2023. The potential value of migrating just these fund transfer transactions to the PCM App would translate to an exponential increase in PCM mobile transactions, of which Peppermint is forecast to earn on average 10 cents for every completed transaction. At this early stage, we are very encouraged by the strong user adoption of the PCM wallet embedded in the Tagum mobile app. Within only 4 days since iOS and 18 days since Android launch, we have already 2,568 registered users, who have conducted 460 fund transfers via InstaPay valued at circa AUD$37,000, and 680 ATM to Wallet transactions valued at circa AUD$40,000. We are also excited by Tagum's openness to adding more services that utilize the PCM wallet as a positive sign of our expanding engagement and collaboration. Their requested integration of the e-load API to offer mobile airtime top-ups directly through their app is just the beginning.

Peppermint's PCM Wallet Launch and Future Outlook

Peppermint Innovation Ltd (ASX:PIL) has successfully launched the PCM digital wallet within the Tagum Co-Op Mobile platform, a significant achievement in collaboration with MASS-SPECC. The PCM wallet, powered by bizmoto, enables real-time fund transfers from ATM accounts to the PCM wallet via Instapay, streamlining financial transactions within the cooperative ecosystem. With Tagum's substantial membership base and user adoption, Peppermint anticipates a considerable increase in PCM mobile transactions, with an average earning of 10 cents per completed transaction. The company is optimistic about the potential value of migrating fund transfer transactions to the PCM App, signaling an exponential growth in mobile transactions. Peppermint's collaboration with Tagum demonstrates a promising expansion and engagement, with plans to integrate additional services utilizing the PCM wallet. The company's outlook is positive, with a focus on leveraging the PCM wallet to enhance financial inclusion and convenience for Tagum's members, while also aiming for sustained growth and user adoption.