Peppermint Gains Access to 12,000+ Retail Cash-In Locations Across the Philippines

Expanding the Digital Wallet Footprint

Peppermint Innovation Ltd (ASX – PIL) has taken a significant step forward in its mission to deepen financial inclusion in the Philippines by signing two pivotal cash-in partnership agreements with ECPay and BTI Payments. These deals dramatically increase the physical network supporting Peppermint’s digital wallets, Bizmoto and Pinoy Coop Mobile (PCM), providing users with vastly improved access to cash-in and bill payment services across the country.

The ECPay partnership opens doors to nearly 9,000 retail touchpoints, including major supermarket chains, convenience stores, and sari-sari outlets, as well as 114 electric cooperative billers serving key regions like Visayas and Mindanao. Meanwhile, the BTI Payments agreement adds over 3,100 Pay&Go kiosks located in prominent malls and retail venues nationwide, including Ayala Malls in major cities.

Leveraging Cooperative Networks for Scale

Central to these partnerships is Peppermint’s collaboration with MASS-SPECC, the largest cooperative federation in the Philippines, which boasts 3.4 million members. This alliance not only provides a trusted channel for user acquisition but also aligns Peppermint’s digital financial services with a broad, engaged community. The cooperative-branded PCM app benefits directly, enabling members to load funds and pay bills conveniently at a much wider range of locations.

For Peppermint, this network expansion is more than just geographic reach. It’s a strategic move to drive recurring transaction revenue, with the company earning a margin on every bill payment and cash-in transaction processed through these channels. The commercial model includes a ₱4.00 margin on every ₱10.00 bill payment and a ₱5.00 margin on each cash-in, supplemented by a 1 percent service fee, creating a sustainable revenue stream.

Towards Predictable, Scalable Growth

Chris Kain, Peppermint’s CEO, highlighted that these partnerships bring the company closer to its “North Star” metric of ten transactions per user per month. This target encapsulates Peppermint’s vision of predictable, recurring revenue and platform scalability. By expanding the physical infrastructure and deepening partnerships, Peppermint is reinforcing the practicality and relevance of its digital wallets for everyday financial transactions.

With the expanded network, Peppermint is well-positioned to capitalize on the growing demand for accessible digital financial services in the Philippines, particularly among cooperative members who have historically been underserved by traditional banking channels. The integration of these extensive retail and cooperative networks could prove pivotal in driving user engagement and transaction volumes.

While the announcement does not provide specific financial forecasts, the strategic partnerships signal a robust foundation for growth and increased market penetration. Observers will be watching closely to see how quickly Peppermint can translate this expanded network into active users and sustained revenue.