MANILA, Philippines — In a strategic move to consolidate its digital payment assets, Manila Electric Co. (Meralco) and its subsidiary are divesting their majority control in CIS Bayad Center. The group announced on Tuesday, April 21, 2026, the sale of their combined 90 percent stake to Kayana Solutions Inc. for a total consideration of ₱2.7 billion.
The transaction paves the way for Kayana—a digital venture backed by the “MVP Group” powerhouses PLDT, Meralco, and Metro Pacific Investments Corp. (MPIC)—to fully integrate the payment giant into its ecosystem.
The share sale involves the unloading of 504,948 shares priced at ₱5,347.08 each:
- The Sellers: Meralco, which held a 5 percent direct stake, and its wholly owned subsidiary Corporate Information Solutions Inc. (CIS), which held 85 percent.
- The Buyer: Kayana Solutions Inc., which previously held a 10 percent stake, will now own 100 percent of Bayad Center upon completion of the deal.
- Strategic Roadmap: The acquisition is expected to accelerate Kayana’s goal of building a unified, multi-channel payment fulfillment and collection platform.
The move represents a significant reorganization of how the Manny V. Pangilinan-led conglomerates handle financial technology:
- Synergy: By moving Bayad Center under Kayana, the group can better synchronize payment services across telecommunications (PLDT), power distribution (Meralco), and infrastructure/tollways (MPIC).
- Digital Transformation: Bayad Center has evolved from a traditional over-the-counter bills payment office into a massive network that also powers digital apps like PalawanPay and DigiPlus.
- Streamlined Operations: The acquisition allows for a more centralized management of payment data and customer touchpoints, improving the speed and efficiency of digital transactions.
Analysts view the ₱2.7-billion deal as a sign of intensifying competition in the Philippine digital payments space. With major players like GCash and Maya dominating the market, the consolidation of Bayad Center under a dedicated digital arm allows the MVP group to compete more aggressively in the “bills payment and collection” niche where Bayad has long held a dominant physical presence.
The disclosure emphasized that the deal will “support customers and stakeholders better” by providing a more seamless payment experience across both physical and digital channels.
