The Philippine Competition Commission (PCC) is taking a closer look at the proposed acquisition of ECPay by Globe Fintech Innovations (Mynt), the company behind the GCash e-wallet.
Mynt’s plan to acquire 100% of ECPay, a major player in electronic payment solutions, raised concerns during an initial review by the PCC.
The regulator is particularly interested in the potential impact on competition within key markets like payment services, aggregator services, and merchant solutions, especially for sari-sari stores, small retailers, and online payment platforms.
To address these concerns, the PCC has initiated a more detailed investigation as part of a Phase II review.
This includes requesting information from both Mynt and ECPay and inviting feedback from the public and other stakeholders.
The PCC is seeking input on how the acquisition might affect competition, service quality, and the availability of services in the relevant markets.
Comments can be submitted via email at mergers@phcc.gov.ph, mail, or an online form until 8 December 2024.
The PCC emphasises the importance of public feedback in ensuring that mergers and acquisitions do not negatively impact consumers and market competition.
Featured image credit: Edited from Freepik
