Philippines: Announced Competition Commission investigation into Mynt's acquisition of ECPay

On 18 September 2024, the Competition Commission (PCC) opened an investigation into the acquisition of Electronic Commerce Payments Inc (ECPay) by Mynt. Mynt notified the PCC of the proposed transaction on 23 April 2024. The PCC Mergers and Acquisitions (MAO) office initiated an in-depth review due to potential competition concerns in markets such as payment services, aggregators, and merchant solutions, which could impact retail and digital channels. The MAO issued a request for information to both parties on 18 September with the objective of conducting an assessment of whether the transaction may lessen competition in the relevant markets.