Australian fintech company Peppermint Innovation is accelerating the rollout of its digital wallet and payments services into the Philippines following a surge in transaction volumes and strategic capital injections.

According to a report by The Globe and Mail, the company is expanding its footprint as usage of its regulated platforms continues to climb.

Peppermint recently secured a strategic investment of AU$ 2.1 million from local sector participants, aiming to use the funding to support the ongoing expansion of its payments services into the Philippines.

The funding aims to scale the bizmoto digital wallet and accelerate active user acquisition across the country.

Recent operational updates show strong growth in cumulative transaction activity. The company recorded significant increases in cash deposits and fund transfers via the InstaPay and PESONet networks.

To further boost transaction frequencies, Peppermint successfully rolled out its QRPh capability for merchant transactions.

This feature allows the platform to expand its payment acceptance points and transition into a fully commercialised ecosystem.

The company operates under an Electronic Money Issuer licence granted by the Bangko Sentral ng Pilipinas. This licence provides direct connectivity to the national financial rails.

Featured image: Edited by Fintech News Philippines based on an image by sodawhiskey via Magnific.