Peppermint and Visa Announce Five-year Partnership

Peppermint announced an exclusive five-year agreement with Visa that will significantly expand its digital financial offering around the world focusing initially on the company's key markets of the Philippines, Singapore and Australia.

Visa's Fintech Fast Track Program will allow bizmoto users to fund a Visa debit or pre-paid Visa card directly from their bizmoto wallet, which will significantly enhance their cash-out capabilities and allow them to use Visa's significant global payment infrastructure.

Peppermint will also be able to issue a Visa debit or pre-paid Visa card linked directly to its bizmoPay program and products, thereby empowering recipients to make regular e-commerce and online transactions.

Peppermint was invited to partner with Visa as part of Visa's FinTech Fast Track Program. Under the partnership agreement, Visa has an exclusive right to provide Peppermint with credit, debit and pre-paid cards in the Philippines, Singapore and Australia for a period of five years during which time Visa will provide Peppermint with significant financial incentives to assist with marketing costs, licencing and implementation fees and ongoing issuer fee rebates.

The Company plans to start issuing Visa debit and pre-paid cards to bizmoto users in Q1 next year subject to the on-boarding and system integration timelines of Visa stipulated third-party partner companies.