PLDT’s digital unit DigiCo acquired a 10% stake in Bayad Center and the entirety of Multipay Corp, as the operator aims to position itself for the Philippines’ shift to digital payments.
In a statement, PLDT Chairman and CEO Manuel Pangilinan said: "Having both online and offline solutions, Bayad and Multipay are uniquely positioned to accelerate the country's shift to digital payments. These companies will improve the payment experience for the Filipino consumer and provide partners with integrated solutions.”
DigiCo was formed in March this year and is part-owned by PLDT, Mania Electric Co and Metro Pacific Investments.
Bayad is a bills payment provider that services over 800 utility, financial, and various billers with a network of more than 104,000 touchpoints nationwide. Multipay is a wholly-owned subsidiary of software company Multisys Technologies Corporation. The deals are subject to closing conditions.
