Peppermint Innovation (ASX:PIL) Highlights Changes At Reporting A Jump In Customer Receipts From Its Philippine Person-To-Merchant Payments Platform

Aditi Sarkar

29 October 2026 04:01 PM AEDT

Peppermint Innovation (ASX:PIL) Highlights Changes At Reporting A Jump In Customer Receipts From Its Philippine Person-To-Merchant Payments Platform

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Highlights

Direct costs of sales rose from A$47,000 to A$889,000, which the company links to volume.
Net operating cash outflow fell to A$287,000 from A$643,000, which Peppermint describes as its lowest quarterly outflow.
That is an expectation, not a result, and the company says there is no assurance its plans will succeed.
At 30 September the company had 94 direct merchants and merchant groups, plus 11 active partners managing 225 indirect merchants.

Peppermint Innovation (ASX:PIL) has reported a sharp rise in customer receipts for the quarter to 30 September 2026, driven by volume on its person-to-merchant (P2M) payments platform in the Philippines. The company also reported a smaller operating cash outflow, but its cash balance remains low and its securities are awaiting reinstatement to quotation.

Quarter Results

Receipts from customers were A$1.18 million, compared with A$78,000 in the June quarter. Direct costs of sales rose from A$47,000 to A$889,000, which the company links to volume. Net operating cash outflow fell to A$287,000 from A$643,000, which Peppermint describes as its lowest quarterly outflow.

The business states receipts covered all direct costs and about half of staff and corporate overheads, that it was cash flow positive in October and that it expects this to continue into the December quarter. That is an expectation, not a result, and the company says there is no assurance its plans will succeed.

Its licensed Philippine subsidiary, Peppermint Bizmoto, reported gross revenue of 48.2 million pesos, up from 2.2 million pesos in the June quarter. Growth came mainly from P2M.

Platform Activity

The platform moved from a legacy PHP framework to a Java architecture on 7 August 2026, and all direct legacy merchants had transitioned by quarter-end. September P2M deposits were 4.51 billion pesos, an average of 150.2 million pesos per day, with a single-day record of 190.5 million pesos on 30 September. Network transactions were 11.5 million in September against 2.7 million in August, with an approval rate of 99.87 per cent against a contractual minimum of 96 per cent.

At 30 September the company had 94 direct merchants and merchant groups, plus 11 active partners managing 225 indirect merchants.

Trading After Quarter-End

For 1 to 21 October, the company reports preliminary, unaudited P2M deposits of 8.20 billion pesos and 19.3 million network transactions. It reports a daily record of 500.7 million pesos on 1 October and a record week of 2.81 billion pesos for 12 to 18 October. These figures are unreconciled and may change.

Peppermint also signed a memorandum of understanding with Manny Pay on 13 October and a merchant payment services agreement with ARX on 14 October.

Cash, Funding And Reinstatement

Cash at 30 September was A$438,000 against A$430,000 at 30 June. Financing brought in A$299,000, comprising A$151,000 of equity issued to Philippine payments-sector partners and a A$150,000 short-term loan from Chill Investments at 8 per cent a year. The loan is repayable on the earliest of five months, five business days after an equity raise of at least A$750,000, or a change of control.

The Appendix 4C estimates a funding runway of 1.5 quarters at the September rate of spending. The business states it has secured a future capital commitment but gives no details. The 4C figure for net increase in cash appears to contain a typographical error; the components shown imply an increase of about A$8,000.

On 23 October, ASX said it intends to reinstate the company's securities once conditions are met, including lodging a prospectus and an independent expert's report on working capital for the next twelve months. Reinstatement is therefore not assured.

Other Business

The cooperative mobile business, Pinoy Coop Mobile, saw limited transaction growth outside its mature Tagum base, partly because bill payment and e-load services were temporarily suspended during migration. A P2M merchant pilot is planned for the December quarter.

Next Milestones

The company's stated milestones are a dedicated network link for InstaPay traffic in the last week of October 2026, the Pinoy Coop pilot in the December quarter, and reporting of December quarter revenue and cash flow in its next quarterly report.

FAQs

Q: What is the principal development covered in this update?

A: Peppermint Innovation has reported a sharp rise in customer receipts for the quarter to 30 September 2026, driven by volume on its person-to-merchant (P2M) payments platform in the Philippines. The company also reported a smaller operating cash outflow, but its cash balance remains low and its securities are awaiting reinstatement to quotation.

Q: What should readers watch next?

A: The company's stated milestones are a dedicated network link for InstaPay traffic in the last week of October 2026, the Pinoy Coop pilot in the December quarter, and reporting of December quarter revenue and cash flow in its next.

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