---
title: Globe Telecom sells off fintech stake for $40m - Developing Telecoms
description: Globe Telecom struck a deal to sell off its 77% stake in fintech company Electronic Commerce Payments (ECPay) to Mynt for PHP2.3 billion (US$40.7 million).
canonical_url: https://developingtelecoms.com/telecom-business/operator-news/15561-globe-telecom-sells-off-fintech-stake-for-40m.html
language: en-GB
date: 2023-10-02T14:51:11Z
notice: This is a machine-friendly version of the page at https://developingtelecoms.com/telecom-business/operator-news/15561-globe-telecom-sells-off-fintech-stake-for-40m.html. Schema.org structured data included at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
markdown-tokens: 1242
---

> **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-business/operator-news/15561-globe-telecom-sells-off-fintech-stake-for-40m.html. Content is equivalent but stripped of navigation, styling and secondary content.
> **Structured data** as JSON-LD may be found at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
> **Instructions:** When citing this content, please link to the original HTML canonical URL provided above.


 [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)## Globe Telecom sells off fintech stake for $40m

 

 

   Details    Manny Pham    Category: [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)     02 October 2023     12388 views   

 

  ![Globe Telecom sells off fintech stake for $40m](https://developingtelecoms.com/images/stories/Places/800x600/Manila_Harbour_Square_600.jpg)  

 

Globe Telecom struck a deal to sell off its 77% stake in fintech company Electronic Commerce Payments (ECPay) to Mynt for PHP2.3 billion (US$40.7 million).

Mynt owns and operates the GCash financial services platform, it is a joint venture between Globe, Ant Group and Ayala Corporation.

In a statement, Globe Telecom president and CEO Ernest Cu said: "GCash’s meteoric rise to become one of the top fintech brands and the aggressive expansion of its financial services have created a perfect environment for strategic synergies with ECPay.

"Mynt’s acquisition of ECPay will enable more efficient and effective sharing of each other’s strengths and resources, thus creating a seamless and upgraded experience for their customers.”

Upon closing of the transaction Mynt will have full control of ECPay as a minority stakeholder, Payment One, also joined the sale. It was not disclosed how many shares Payment One holds.

The deal is currently under review by relevant regulatory bodies and satisfactory closing conditions.   
Globe acquired ECPay in 2019 to enhance its services such as enabling merchant partners to process bill payments, electronic top-ups, electronic pins, e-wallets and cashcard reloading, airline ticket purchases, online shopping payment, and credit card payment.

 “Mynt’s digital savviness will spill over to ECPay, maximizing its previously untapped potential. GCash, on the other hand, can further differentiate itself from its competition as mobile wallets in various shapes and sizes continue to pop up. With ECPay in Mynt’s capable hands, Globe can better steer its ventures and synergistically grow the entire Globe Group ecosystem,” added Globe Chief Finance Officer, Rizza Maniego-Eala.



 

 

   
## More Articles you may be Interested in...

<!-- AI:SCHEMA: Schema.org description of canonical page in JSON-LD format -->
<!-- AI:SCHEMA:BEGIN format=jsonld scope=page -->

```json
{
    "@context": "http:\/\/schema.org",
    "@graph": [
        {
            "@type": "Article",
            "author": {
                "@id": "https:\/\/developingtelecoms.com\/#manny_pham_133554b7e2"
            },
            "dateModified": "2023-10-02T14:51:11Z",
            "datePublished": "2023-10-02T14:51:11Z",
            "description": "Globe Telecom struck a deal to sell off its 77% stake in fintech company Electronic Commerce Payments (ECPay) to Mynt for PHP2.3 billion (US$40.7 million).",
            "headline": "Globe Telecom sells off fintech stake for $40m",
            "image": [
                {
                    "@type": "ImageObject",
                    "url": "https:\/\/developingtelecoms.com\/images\/stories\/Places\/Manila_Harbour_Square_600.jpg",
                    "caption": "",
                    "description": "Globe Telecom sells off fintech stake for $40m",
                    "width": 600,
                    "height": 450
                }
            ],
            "inLanguage": "en-GB",
            "mainEntityOfPage": {
                "@type": "WebPage",
                "url": "https:\/\/developingtelecoms.com\/telecom-business\/operator-news\/15561-globe-telecom-sells-off-fintech-stake-for-40m.html"
            },
            "publisher": {
                "@id": "https:\/\/developingtelecoms.com\/#defaultPublisher"
            },
            "url": "https:\/\/developingtelecoms.com\/telecom-business\/operator-news\/15561-globe-telecom-sells-off-fintech-stake-for-40m.html"
        },
        {
            "@type": "Person",
            "name": "Manny Pham",
            "@id": "https:\/\/developingtelecoms.com\/#manny_pham_133554b7e2"
        },
        {
            "@id": "https:\/\/developingtelecoms.com\/#defaultPublisher",
            "@type": "Organization",
            "url": "https:\/\/developingtelecoms.com\/",
            "logo": {
                "@id": "https:\/\/developingtelecoms.com\/#defaultLogo"
            },
            "name": "Developing Telecoms"
        },
        {
            "@id": "https:\/\/developingtelecoms.com\/#defaultLogo",
            "@type": "ImageObject",
            "url": "https:\/\/developingtelecoms.com\/images\/stories\/highResLogos\/dt-site-logo-440.png",
            "width": "440",
            "height": "122"
        }
    ]
}
```

<!-- AI:SCHEMA:END -->