Philippine digital finance reached a major milestone as Mynt Inc., the parent company of GCash, officially debuted on the
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Globe Telecom, Inc. (PSE: GLO), a leading digital platform in the Philippines with major interests in telecommunications, financial technology, virtual healthcare, digital marketing solutions, data insights, corporate venture building, and climate technology, entered into an agreement with Globe Fintech Innovations, Inc. (Mynt), the parent company of GCash, for the sale of its 77% stake in Electronic Commerce Payments, Inc. (ECPay) for PHP2.31Bn. ECPay’s minority stakeholder, Payment One, Inc., is likewise a party to the agreement, effectively making the transaction a full acquisition of ECPay by Mynt.
GCash, the country’s top finance app and only double unicorn, is among the top 10 apps in the Philippines in four categories, according to the just released 2022 State of Mobile report of data.ai (formerly App Annie), cementing its position as the top e-wallet for Filipinos.
