DIGICO, a digital entity owned by businesses led by Manuel V. Pangilinan announced its execution of separate agreements to acquire a 10 percent interest in Bayad Center and 100 percent of Multipay Corp. Pangilinan said having Bayad and Multipay will help accelerate the country’s shift to digital payments.
Under the deal, DigiCo will acquire a 10 percent stake in Bayad, a bills payment provider that serves more than 800 utility, financial, and various billers with a network of more than 104,000 touchpoints nationwide.
DigiCo’s acquisition of minority interest in Bayad is subject to closing conditions. DigiCo also executed an agreement to acquire 100 percent of Multipay, whose strong relationship with various billers and digital payment channels is expected to complement and add value to an integrated payment platform’s capabilities. / PR