The MVP Group’s DigiCo is set to acquire a 10% interest in Bayad Center (Bayad) and a 100% stake in Multipay Corp. (Multipay), marking a significant move in the digital payments landscape.
“Having both online and offline solutions, Bayad and Multipay are uniquely positioned to accelerate the country’s shift to digital payments,” Manny V. Pangilinan, chair of DigiCo, said in a statement. “These companies will improve the payment experience for the Filipino consumer and provide partners with integrated solutions.”
DigiCo, a shared digital services company, is owned by PLDT Inc. (PLDT), Manila Electric Company (Meralco), and Metro Pacific Investments Corp. (MPIC).
“Harnessing the data assets of the MVP Group will enable us to deliver a superior, intuitive, and personalized customer experience, backed by insights that can uplift the way we serve our customers across the MVP Group,” Pangilinan said.
DigiCo will acquire a 10% stake in Bayad, a bills payment provider that serves over 800 utility, financial, and various billers through a network of more than 104,000 touchpoints nationwide. The acquisition of this minority interest in Bayad is subject to closing conditions, but it is poised to strengthen DigiCo’s foothold in the digital payments sector.
Digital payments
“For 18 years, Bayad has served the Filipino public through accessible, reliable, and impactful payment solutions,” said Lawrence Ferrer, CEO and president of Bayad.
He expressed optimism about the future partnership with DigiCo, highlighting the potential for further growth and innovation.
In addition to the Bayad acquisition, DigiCo has executed an agreement to acquire 100% of Multipay, a wholly-owned subsidiary of Multisys Technologies Corp. (Multisys). Multipay has established strong relationships with various billers and digital payment channels, which is expected to enhance the capabilities of DigiCo’s integrated payment platform. The acquisition of Multipay will be finalized once all closing conditions are met.
“Multipay has come a long way, and we are confident that DigiCo will be in the best position to take Multipay to even greater heights,” said Victor Tria, CEO and president of Multisys.
DigiCo plans to leverage its expertise and resources to support the growth trajectories of both Bayad and Multipay. The company aims to explore and unlock synergies within the MVP Group, enhancing its service offerings and market reach in the process.