Meralco says no profit from convenience fees

Pangilinan-led Manila Electric Company (Meralco) on Monday said payments made using the Bayad e-wallet are not subject to convenience fees, and that it does not profit from such fees using third-party options.

In an advisory, Meralco said payments through its online website or application using Bayad do not have convenience fees, as these have been waived by Bayad as the payment processor for Meralco Online.

“We would like to reiterate that there is no charge if customers use Bayad e-wallet and that convenience fees for other providers go to our payment partners,” Meralco vice president and head of corporate communications Joe Zaldarriaga said.

“We do not earn a single centavo from these convenience fees contrary to what was inaccurately stated,” he added.

Meralco said payments using e-wallets are charged convenience fees of P6 for GCash and P7 for Maya, while Visa, Mastercard, and JCB cards charge P15, but these are collected by the respective payment partners.

The firm also said it currently has 61 online channels, 68 over-the-counter channels, and the option for 12 automatic payment arrangements with partner banks.

“Our customers are empowered to use whichever secure payment channel they prefer when settling their electricity bills,” Zaldarriaga said.

“We remain committed to continuously enhancing our services for better customer experience alongside our efforts to deliver reliable and stable electricity service,” he added.

The company is optimistic to hit a core net income of at least P40 billion in 2024, as it believes it can sustain the growth it recorded in the first quarter of the year.

Meralco constructs, operates, and maintains electric distribution systems in the cities and municipalities of Bulacan, Cavite, Metro Manila, and Rizal, as well as certain areas in the provinces of Batangas, Laguna, Pampanga, and Quezon.

The firm counts as subsidiaries and associates Vantage Energy Solutions and Management Inc. and MeridianX Inc., acting as retail electricity suppliers in Luzon and the Visayas.—AOL, GMA Integrated News