Manila, Philippines – Following the latest order from the Philippine Competition Commission (PCC) to Grab Philippines to return ₱19.3m in refunds to its customers, the company released a new statement, stating that they have complied with the disbursement order of the PCC, adding they have disbursed the full administrative fee in a manner consistent with the agreed mechanics with the PCC.
A spokesperson from Grab Philippines said that since the first order directing Grab Philippines to disburse the administrative fees to eligible passengers last November 14, 2019, Grab Philippines has been proactively monitoring said redemption. Immediately upon its receipt of the PCC Order, Grab Philippines has outlined to the PCC its suggested measures to address this situation and has been eagerly awaiting the PCC’s response.
“Grab Philippines remains fully committed to complying with its undertakings and commitments and doing right by its stakeholders, and is proactively working with the PCC to exhaust all possible measures to ensure that the remaining administrative fee is redeemed by all eligible passengers,” said Grab.
They also added that following regulations from Bangko Sentral ng Pilipinas (BSP), those who have completed the basic know-your-customer (KYC) process can directly redeem the amount which was credited on their GrabPay Wallet accounts.
“Eligible passengers who have not yet completed their basic KYC are required to complete this BSP-mandated process prior to redemption. Grab cannot credit their GrabPay Wallet without completion of basic KYC as this is a regulatory requirement of the BSP,” they further stated.
The company also added that it has yet to receive the final decision of the PCC on the recommendations for those eligible passengers lacking the mandatory KYC.
“We would like 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–and focus our efforts in helping the Philippine economy recover,” they concluded.
