Call For Comments On
The Proposed Merger Of Bancnet, Incorporated And
Philippine Clearing House Corporation


Stakeholders and other interested entities are invited to submit comments on the proposed merger of Bancnet, Incorporated (“Bancnet”) and the Philippine Clearing House Corporation (“PCHC”, together with Bancnet, the “Parties”), which is currently pending review by the Commission.

Bancnet is an electronic payments network in the Philippines that enables the customers of its members to transact at automated teller machines, point-of-sale terminals, and through mobile phones via digital applications and websites connected to the internet.

PCHC facilitates the check clearing operation of different banks in the Philippines. It also offers several electronic-based payment system services, including Philippine Domestic Dollar Transfer System, Payment Application Secure System, and Payment Gateway facility.

Currently, Bancnet is the clearing switch operator (“CSO”) for the real-time interbank electronic fund transfer facility, InstaPay, while PCHC is the CSO for the batch interbank electronic fund transfer facility, PESONet.

In assessing the proposed merger transaction, the Commission considers the impact to competition, the merged entity’s ability and incentive to increase fees in the relevant market, and other possible effects of the transaction (including the effect on quality and reliability of services by InstaPay and PESONet).

Comments may be submitted on or before 30 June 2023 via e-mail to with subject titleComments on Bancnet and PCHC”; via mail to Philippine Competition Commission located at 25th Floor, Tower 1, Vertis North Corporate Center, North Avenue, Quezon City 1105; or by answering the online form in this link.