ECPay’s merchant base expands

CUSTOMER and merchant bases of Electronic Commerce Payments Inc. (ECPay), a subsidiary of Ayala-led Globe Telecom Inc., got a boost from the coronavirus disease 2019 ( Covid- 19) pandemic from April to July.

Globe said ECPay’s customer and merchant bases grew by 114 percent and 18 percent, respectively, in the period as more Filipinos were forced to turn to digital channels amid continuous Covid-19 fears.

Biller portfolio also climbed by 20 percent, with growth buoyed by billers engaged in loans, water, electric cooperatives, cable and internet, schools and courier services.

“We are seeing the public’s growing willingness to adopt the digital lifestyle and we are glad to be able to support them by providing convenience through various touch points that may be closer to our customers and easier to get to for bills payment, cash-in services, and purchase of electronic load,” Jasmin Montelibano, ECPay chief executive officer, was quoted as saying in the statement.

“We now have a good mix of traditional and digital channels that we enable with the one-stop shop proposition,” she added.

ECPay focuses on providing payment infrastructure for electronic loading, bill payments, airline ticket payments, cash-in service and online shopping transaction payments.

Late last year, Globe acquired majority control in ECPay amounting to P1.54 billion.

Shares in Globe went up 2.35 percent or P48 to finish at P2,088 each on Monday.