MVP Group’s DigiCo Agrees to Acquire Minority Interest in Bayad Center and 100% of Multipay

DigiCo, a digital entity owned by businesses led by Manuel V. Pangilinan (MVP Group), today announced its execution of separate agreements to acquire a 10% interest in Bayad Center (Bayad) and 100% of Multipay Corporation (Multipay).

"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,” said DigiCo Chairman Pangilinan.

DigiCo is owned by PLDT Inc. (PLDT), Manila Electric Company (Meralco), and Metro Pacific Investments Corporation (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 added.

Under the deal, DigiCo will acquire a 10% stake in Bayad, a bills payment provider which 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.

“For 18 years, Bayad has served the Filipino public through accessible, reliable, and impactful payment solutions. Our success is a testament to the unwavering trust placed in us by billing institutions, payment channels and the Filipino public,” said Lawrence Y. Ferrer, CEO and President of Bayad.

DigiCo also executed an agreement to acquire 100% of Multipay, a wholly owned subsidiary of Multisys Technologies Corporation (“Multisys”), whose strong relationship with various billers and digital payment channels is expected to complement and add value to an integrated payment platform's capabilities. Multipay’s acquisition will be completed once all closing conditions are obtained.

"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 Y. Tria, CEO and President of Multisys.

DigiCo plans to leverage its expertise and resources to support Bayad's and Multipay’s growth trajectory while exploring and unlocking synergies in the MVP Group, according to Kat Luna-Abelarde, DigiCo Chief Commercial Officer. "This is the latest milestone on our journey to drive new, innovation-led growth, and is aligned with the MVP Group's support for the Government's overall digitalization push, particularly financial inclusion for Filipinos across the nation," she added.

PLDT is the Philippines’ largest integrated telecommunications company. Through its principal business groups – from fixed line to wireless – PLDT offers a wide range of telecommunications and digital services across the Philippines’ most extensive fiber optic backbone, and fixed line and cellular networks.

PLDT is listed on the Philippine Stock Exchange (PSE:TEL) and its American Depositary Shares are listed on the New York Stock Exchange (NYSE: PHI). PLDT has one of the largest market capitalizations among Philippine-listed companies.

Bayad has developed an outsourced bills payment collection service in the Philippines, aggregating a multitude of billers into a robust system that is now being used by leading establishments and electronic money institutions across the country. Formerly known as Bayad Center, a fintech subsidiary of Meralco, it continues to innovate the industry and offer a whole suite of financial products & services available to both consumers and businesses.

Meralco is the largest private sector electric distribution utility company in the Philippines covering 39 cities and 72 municipalities. Meralco celebrated 120 years of service in 2023, committed to providing reliable and affordable energy.

MPIC is a Philippine-based, investment management and holding company registered with the Philippine Securities and Exchange Commission. It is a leading infrastructure holding company with a diverse set of assets held through its operating companies. Through acquisitions and strategic partnerships, MPIC seeks to create value by upgrading infrastructure, improving operational efficiency, increasing customer coverage and working closely with regulators and other partners in government.