Grab to heed PCC order, refund P5.05M to overcharged customers

Grab Philippines on Monday said it will heed Philippine Competition Commission’s (PCC)order and refund P5.05 million to passengers who were overcharged.

“We respect the PCC and its mandate to protect the consumers in the Philippines and create a healthy competitive environment. Grab Philippines has worked closely with the PCC to form and finalize these voluntary commitments,” the company said.

“The antitrust body has identified certain deviations from Grab’s voluntary commitments, and based on the recent order from the PCC, Grab will be paying a total computed amount of P5,050,000 to the passengers who took Grab rides from February until May 2019.”

The PCC slapped the company with P23.45 million in total fines, and ordered Grab to refund its passengers P5.05 million in overcharged fares.

The antitrust watchdog implemented a “disgorgement mechanism” that will allow Grab to refund overcharged customers through their GrabPay account.

“This mechanism ensures that the public will directly be given a rebate, through their individual GrabPay accounts,” PCC Chairman Arsenio Balisacan said.

Grab said it will comply and will work with the PCC to implement the refund.

“Grab Philippines maintains its compliance with the LTFRB’s fare matrix and will work closely with the PCC in implementing the agreed mechanics for the payment, which will be communicated to the public at least five (5) days before paying.” —VDS, GMA News