Grab to disburse PHP 14 million penalty to passengers via GrabPay Wallet

In compliance with the Philippine Competition Commission (PCC)’s orders, Ride-hailing service Grab has stated that the company will pay out its PHP 14.15USD 0.24INR 20EUR 0.23CNY 2 million penalties to passengers via GrabPay wallet.

PCC has fined ride-hailing service Grab another PHP 16.15USD 0.28INR 23EUR 0.26CNY 2 million, for violations made by the company from May to August. The penalty comes as an addition to the PHP 23USD 0.39INR 33EUR 0.37CNY 3 million fine received by Grab in November. PCC fined Grab PHP 14.15USD 0.24INR 20EUR 0.23CNY 2 million over “extraordinary deviation on its pricing commitment”, and also fined the service PHP 2USD 0.03INR 3EUR 0.03CNY 0.25 million for exceeding driver cancellation at 7.76%, instead of 5%.

Through a statement, Grab declared that the PHP 14.15USD 0.24INR 20EUR 0.23CNY 2 penalty would be disbursed not later than February 10, 2020,  via the GrabPay wallets of its passengers who booked rides from May 11 to August 10. Grab also stated that the remaining PHP 2USD 0.03INR 3EUR 0.03CNY 0.25 million will be paid directly to the PCC.

Of the fines imposed on Grab, PCC Chair Arsenio M. Balicasan stated:

The ride-hailing market has seen profound changes in the past year as a result of Grab’s acquisition of Uber. With the commitments in place, PCC aims to maintain pre-transaction market conditions and will discipline any tendency to exercise monopolistic power with corresponding penalties.

Source: PCC