The antitrust body cleared the transaction subject to voluntary commitments from both parties. Mynt will pay P2.12 billion upfront, with the remaining balance to be settled over three years.
The deal strengthens Mynt’s offline payment capabilities through ECPay’s extensive retail network.
Globe, which is selling its 77 percent stake, plans to use the proceeds to support operations.
"ECPay is a customer purchase and payment system provider in the Philippines, enabling merchants in both offline and online channels with the one-stop-shop proposition and offer customers convenient payment platforms," Globe said in a stock exchange filing on Thursday.
