BancNet, PCHC complete merger to unify PH payments networks

MANILA, Philippines – BancNet Inc. and the Philippine Clearing House Corp. (PCHC) on Tuesday announced the completion of their merger, creating a unified payments and clearing operator to boost efficiency and strengthen the country’s payments infrastructure. In a joint statement, both said the Securities and Exchange Commission approved the merger with BancNet serving as the surviving entity. READ: Wanted: Manager of Philippine payment system operators Early this year, the Bangko Sentral ng Pilipinas previously authorized the merger between the BancNet and PCHC. Effective June 1, BancNet has been renamed Payments Network of the Philippines Inc. (PNPI), while the BancNet and […]...

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