PCC clears GCash operator’s acquisition of ECPay

MANILA, Philippines — The Philippine Competition Commission (PCC) has cleared GCash operator Mynt’s P2.31-billion deal to acquire Electronic Commerce Payments Inc. (ECPay) from parent company Globe Telecom Inc.

In a disclosure on Thursday, Globe said they had received the certification from the competition watchdog to proceed with the transaction.

“Completion is expected to occur upon receipt of approvals from other relevant regulatory bodies and satisfaction of closing conditions,” it added.

The transaction was first announced in September 2023.

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The PCC said they had received the notification in April 2024.

Globe bought ECPay in 2019. The digital payment platform allows merchants to process bills payments, electronic prepaid mobile phone top-up loading, e-wallet reloading, online shopping payments and others.

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