Peppermint receives EMI licence

Wednesday 4 May 2022 15:00 CET | News

Peppermint has been granted a licence to operate as an Electronic Money Issuer (EMI) by the Central Bank of the Philippines, ‘Bangko Sentral ng Pilipinas’ (BSP).

The EMI licence authorises the company to deliver e-wallet services through its bizmoto mobile app allowing any Filipino, not just bizmoto agents, to use the platform to receive digital money and access digital services.

The EMI licence extends the company’s opportunity to reach micro-entrepreneurs and provide digital payments for their businesses. They also can apply for bizmoPay loans, purchase bizmoProtect micro-insurance policies, and future bizmoto platform products and services.

The company plans to start work on a pilot program with a local community to facilitate financial inclusion by encouraging members to become bizmoto users so they can immediately access digital and mobile payments as an alternative to cash transactions within their community.

More: Link

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Keywords: EMI licence, regulation, banks, e-wallet, digital wallet
Categories: Banking & Fintech
Companies: Central Bank of the Philippines, Peppermint
Countries: Philippines
This article is part of category

Banking & Fintech

Central Bank of the Philippines



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