NextGen Day

MANILA, Philippines – Grab Philippines (Grab) stated that the PHP25.45 million penalty imposed by the Philippine Competition Commission (PCC) has been “fully disbursed,” but only a small portion has been claimed.

Grab said in a statement Tuesday that the administrative fee imposed by the PCC was fully paid in a “timely manner, through the PCC-approved mechanism.”

“We can confirm that no technical difficulties were encountered during the disbursement of the administrative fees. “All eligible passengers have received their portion of the administrative fee in their Grab Rewards Catalog,” the company stated.

In response to the PCC’s assertion that only 24.1% of the refund has been claimed, it stated that many eligible customers have not claimed their portion of the refund.

“With the majority of eligible passengers entitled to a PHP1 admin fee from the PCC, the amount is insufficient for them to open a GrabPay wallet account and comply with the BSP’s KYC (Know Your Customer) requirements,” Grab explained.

BSP regulations require users who are eligible for a refund to complete the KYC process prior to redemption.

To address the low redemption rate, it proposed measures to the PCC but “has received no response.”

“While Grab Philippines has not yet received the PCC’s final decision on the recommendations for eligible passengers who do not have the required KYC, we want to reassure our kababayans that we will continue to work with the competition commission to ensure that the remaining administrative fee amount is fully redeemed,” the company said.

The PCC ordered Grab on Monday to “immediately release” the remaining PHP19.3 million refund to eligible customers, citing Grab’s “lack of refunds from previous fines.”

It gave Grab until April 22 to refund the balance via the GrabPay wallet “without requiring users to take any action to claim the money.”

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---