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Company behind GCash acquiring ECPay for P3 billion

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Mynt, the holding company of finance super app GCash, signed an agreement with Globe Telecom Inc. and Payment One Inc. to acquire a 100-percent stake in Electronic Commerce Payments Inc. (ECPay) for P3 billion.

From left: ECPay president and CEO Jasmin Montelibano, Mynt president and CEO Martha Sazon, Globe Group chief commercial officer Issa Cebreira, and Payment One Inc. president Jude Aguilar

“Mynt, through its fintech subsidiaries, has already built the largest digital ecosystem for our users which extends all the way to the grassroots level. ECPay is a big boost to our financial inclusion journey as we find synergies with their 570 biller and portfolio partners, 490,000+ over-the-counter channels and 3000+ digital touchpoint channels,” said Mynt president and CEO Martha Sazon.

ECPay, incorporated in 2001, is a leading electronic payment service provider in the Philippines. It was acquired by Globe in 2019 to enhance its distribution network. Mynt said the transaction would drive synergy by combining the best practices and capabilities of both GCash and ECPay.

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