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BancNet, PCHC unite under new payments giant
Manila Bulletin
|June 3, 2026
The Securities and Exchange Commission (SEC) and the central bank approved the merger of the nation’s two largest payment and clearing operators, creating a unified entity tasked with driving growth in digital transactions in the country.
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BancNet Inc. and Philippine Clearing House Corp. (PCHC) announced in a statement on Tuesday, June 2, that they received regulatory clearance to combine operations, with BancNet acting as the surviving corporate entity.
The Bangko Sentral ng Pilipinas (BSP) previously authorized the transaction earlier this year. Effective June 1, the merged company began operating under the new corporate name Payments Network of the Philippines Inc. (PNPI).
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