• Peppermint inks deal to extend contract with leading health cooperative in the Philippines
  • The fintech aims to help the ~110 million Filipinos who are unbanked or underbanked
  • Peppermint says contract extension is testament to its work and deepening relationship with the health management co-op


As Peppermint prepares to pitch a full suite of digital wallet services under its EMI licence across the lucrative Philippines co-op sector, it has just extended a contract with one of the big fish in the health sector.

Fintech Peppermint Innovation (ASX:PIL) has extended its contract with leading Philippines health management organisation Cooperative Health Management Federation (CHMF).

CHMF – aka One Coop Health – represents more than 825 health providers, 185 cooperatives and almost 58,000 policyholders.

CHMF was formed in 2014 through the merger of 13 leading cooperatives.  CHMF represents cooperative leaders’ joint vision to use community knowledge, technical skill, governance, data, and tech to create an advanced, progressive and inclusive private healthcare platform.

The two-year contract extension with CHMF builds on PIL’s initial September 2017 deal.

Under the original deal PIL automated CHMF’s organisational processes with a mobile application and web tool.

PIL will receive ~$60,000 from CHMF for using its proprietary CHMF Health Care System under the extended deal.

PIL is working to advance and commercialise its fintech platform. Its tech encompasses mobile banking, payments, remittance, e-commerce, and financial tools tailored for micro-enterprises, agent networks, banks, and cooperative associations.


Tackling a lack of finance services in Asia and the Philippines

More than 70% of Southeast Asia’s 658 million individuals lack bank accounts and are deprived of financial services, credit cards, and payment options.

Currently, the PIL Platform is active in the Philippines, where approximately 70% of the country’s 113 million people are either unbanked or underbanked – which is a critical concern in the country.

The fintech has created and introduced the Bizmoto mobile App, an extensive platform for micro-enterprises along with a range of services.

The platform encompasses e-commerce for both agents and the public, prompt delivery and logistics facilitated by accredited riders, and versatile mobile payments for bill settlements, fund transfers, e-loading, QR code utilisation, and linked mobile wallet services.

Introducing micro-enterprise lending and other necessary non-bank financial amenities through the existing Bizmoto agent network is expected to substantially boost the adoption and growth of the Bizmoto platform, thereby facilitating the provision of inclusive financial services.

While PIL is at present focused on the Philippines, its adaptable Bizmoto platform and its service ecosystem are geared toward expansion in developing nations within the ASEAN region.

Having already been successfully implemented in the Philippines, PIL is not only propelling its proprietary Bizmoto non-bank mobile micro-enterprise platform but also delivering personalised mobile banking app solutions to the banking sector.

The Bizmoto mobile micro-enterprise platform is empowering the next wave of Filipino entrepreneurs to offer vital inclusive financial services.


MASS-SPECC Pinoy Coop App 

Last month, Peppermint advised it had successfully completed all back-end integration of bizmoto’s EMI financial services with MASS-SPECC Cooperative Development Center’s Pinoy Coop mobile App.

The Company had also been in discussions with MASS-SPECC to identify and provide technical solutions to overcome third-party front-end delays and help deploy the Pinoy Coop App as quickly as possible.

The economics of the MASS-SPECC partnership were compelling for Peppermint, it says, with the Company forecast to earn 10c for every completed transaction.


Building on a successful contract

PIL managing director and CEO Chis Kain says securing this two-year contract extension with CHMF is testament to the quality of PIL’s design and development of CHMF’s Health Care System.

“CHMF has a captive audience of almost 58,000 policy holders and more than 825 health providers,” he says.

“The deepening of the relationship with CHMF will allow us to make greater use of our EMI Licence (currently focused on lending and payments) to offer services to their loyal customers and providers much like we currently doing with MASS-SPECC.”



This article was developed in collaboration with Peppermint Innovation, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.