GCash completes ECPay acquisition, PCC approves transparency and fair competition commitments

E-wallet leader GCash has completed a significant acquisition of payment platform ECPay after receiving approval from the Philippine Competition Commission (PCC).

Under the agreement, Mynt will purchase 100 percent of the shares in ECPay from Globe Telecom and Payment One, with the transaction set to be finalized upon meeting remaining closing conditions.

The PCC has approved commitments by both GCash operator Mynt and ECPay to maintain pricing transparency for customers through various media platforms and sari-sari store partner outlets.

Both companies have also agreed to separate IT systems and to keep their services open and fair to all market players, ensuring good service quality for customers and business partners.

With this acquisition, GCash aims to guide ECPay through a digital transformation similar to how it developed into a $5-billion company preparing for an IPO, solidifying its leadership in the digital finance sector.

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