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Securities Exchange Commission in the Philippines has granted Peppermint a financial lending licence, allowing it to offer alternative non-bank micro-enterprise loans.
The financial lending service – branded bizmoPay – complements the commercialisation of Peppermint’s proprietary technology platform which targets four key business sectors – mobile payments, ecommerce, delivery, and logistics and mobile financial services.
A three-month pilot program will be rolled out to select bizmoto agents to ensure the back end of the bizmoPay system is fully integrated with the existing bizmoto platform and the application, approval, and receival process is seamless.
Funds to support the initial roll-out of bizmoPay’s operations were allocated earlier in 2021 as part of Peppermint’s USD 2.5 million placement.
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