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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.
