Grab to obey PCC order for P5-M refund to customers
MANILA, Philippines — Ride-hailing company Grab Philippines will comply with the order of the Philippines Competition Commission (PCC) for a P5-million refund to its riders.
In a statement, Grab said it will announce the process of payment at least five days prior to returning the money to its customers.
“The antitrust body has identified certain deviations from Grab’s voluntary commitments, and based on the recent order from the PCC, Grab will be paying a total computed amount of PhP 5,050,000 to the passengers, who took Grab rides from February until May 2019,” Grab said.
Grab added it will “work closely with the PCC in implementing the agreed mechanics for the payment, which will be communicated to the public at least five (5) days before paying.”
PCC earlier announced its imposition of a P23-million fine to Grab after it cited breach in the ride-hailing firm’s pricing commitments.
READ: Antitrust body fines Grab P23M, orders P5-M refund to riders
The fine covers P11.3 million in penalties during the first quarter, P7.1 million for the second quarter, and P5.05 million for the third quarter. PCC further ordered Grab Philippines to refund P5 million to its passengers.
“We respect the PCC and its mandate to protect the consumers in the Philippines and create a healthy competitive environment. Grab Philippines has worked closely with the PCC to form and finalize these voluntary commitments,” Grab said.
PCC said Grab will return price excesses to riders via GrabPay if it breaches the monthly average fee cap set by the commission.
“This mechanism ensures that the public will directly be given a rebate, through their individual GrabPay accounts,” PCC chair Arsenio Balisacan earlier said in a press conference.
Edited by KGA
