ASX listed Peppermint Innovation (ASX:PIL) has launched its own direct-selling agent network across the Philippines, delivering services for mobile banking, mobile eload, bill and product payment and money transfers.
In a market update, Peppermint said its own agent network could sell any relevant kind of service or product to its Filipino customers, via its non-banking technology platform, making money for all stakeholders.
So far, more than 100 local Filipinos had subscribed to be Bizmoto agents, operating under the same brand as Peppermint’s recently launched online remittance business portal.
According to the company the agents would be trained in using Peppermint’s proprietary non-bank payment platform before engaging Filipino customers via the new Bizmoto mobile phone App, which had also just been commissioned.
The commissioning of Bizmoto’s mobile phone App comes just days after it launched its online portal (www.bizmoto.com.au) across Australia.
Commenting on the launch of its own direct-selling agent network, Peppermint Innovation’s Managing Director and CEO Chris Kain said: “We are aiming to create the first of its kind, digitally-connected, multi-level marketing agent base that provides unique opportunities for entrepreneurial Filipinos to build their own business via our technology platform.
There are many young, technologically savvy Filipinos searching for ways to make money, while satisfying their lifestyle and living conditions in the Philippines. Bizmoto can deliver that unique business opportunity.”
Mr Kain said Bizmoto’s agent base was so much more than international remittance or mobile payments, or even mobile eload.
“By having our own agent network, we can direct any kind of service or product across that technology platform that makes sense and makes money for all stakeholders.
“We are already investigating the ability to provide additional services that our own agent network can deliver to customers, such as basic micro-finance and product delivery.”
Mr Kain said the multi-level marketing or “network” marketing industry was a significant business sector in the Philippines, with some agent networks boasting more than two million members.
About 70 per cent of the Philippines’ population of 106 million people did not operate a bank account, while millions of Filipinos still received their weekly wage in cash.
“These people need to pay their bills in cash, causing them to travel great distances across town to ensure all of their household bills are paid,” he said.
“The mobile phone App gives Bizmoto’s network of agents the flexibility to visit customers in their own environment – whether that be at their work, home or another location – making it a convenient way for Filipinos to transact.”
Mr Kain said Peppermint had previously trialled and applied its non-bank technology platform with established network marketing partners MyWeps, MetroGas, SunMAR Express and Sante Barley.
He said the trials had provided critical intelligence for Peppermint to apply to its own agent base and for the benefit of its partners to expand Peppermint’s presence in the network marketing industry across the Philippines.