Emerging cross-border payments player Peppermint Innovation Limited has announced that UnionBank of the Philippines intends to ramp up its use of PIL's mobile banking platform by a factor of 50 times. Peppermint Innovation is an ASX-listed company with headquarters in Perth. It has been developing and marketing a system to allow the unbanked of developing countries to transfer funds via mobile phones, starting in the Philippines, where it claims three major retail banks as clients.One of these is UnionBank, a large publicly listed universal bank running a digital transformation process.Peppermint provides the UMobile platform as a white label mobile banking application to UnionBank. According to PIL, there are 50,000 accountholders registered on the UMobile platform, performing more than 500,000 transactions per month. Peppermint said the bank "has confirmed" it intends to register a further 2.5 million account holders on UMobile application, starting in July. The bank's efforts are aimed at delivering mobile banking services such as balance inquiry, fund transfers and bill payments to its customers.PIL said the expansion by UnionBank, if it goes as planned, has "significant upside for Peppermint Innovation and its revenue position." PIL will certainly need to move ahead on scaling up its revenue. Managing director Chris Kain said last week in a letter to shareholders that US$9.5 million had been spent in the past four years on development of PIL's platform, with further work needed on areas such as demonstrating compliance with the Philippines central bank's 'Know Your Customer' and anti-money laundering regulations.(PIL was previously known as Chrysalis Resources, which ran mining operations in Zambia until it acquired Peppermint Innovation. The company recapitalised during 2015 and relisted under its current name on 4 December 2015 with its current e-payments business.)