Philippines: PCC ruled on investigation into Globe Fintech Innovations (Mynt)'s acquisition of Electronic Commerce Payments (ECPay)

On 13 May 2025, the Philippine Competition Commission (PCC) ruled on its investigation into Globe Fintech Innovations (Mynt)'s acquisition of Electronic Commerce Payments (ECPay). The PCC approved the merger subject to a set of binding voluntary commitments. During the investigation, the PCC Mergers and Acquisitions office (MAO) raised competition concerns and concerns that control over users' data could be used to limit market entry for competitors of Globe Fintech Innovations. Mynt and ECPay submitted voluntary commitments to the Commission to address these concerns. They volunteered to address the competition concern by publishing the fees of various media platforms, as well as to keep their services fair to all market players while maintaining quality service for customers. They also agreed to maintain separate IT systems and to work with regulators to promote consumer awareness of digital payment services. Both companies are required to appoint a Competition Compliance Officer to monitor compliance. These commitments will take effect immediately upon completion of the merger and will last for a minimum of 3 years, which the PCC may extend to 5 years.