Philippines: Opened consultation on Competition Commission investigation into Mynt's acquisition of ECPay

On 22 November 2024, the Competition Commission (PCC) opened a consultation on the acquisition of Electronic Commerce Payments Inc (ECPay) by Mynt, which closes on 8 December 2024. 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 2024 with the objective of conducting an assessment of whether the transaction may lessen competition in the relevant markets. The consultation invites comments from stakeholders and the general public on how the transaction may affect competition, quality, or the availability of services.