Grab announced Thursday, December 19, that it would refund a total of 14.1 million pesos (US$278,000) to the GrabPay wallets of passengers in the Philippines after the country’s competition watchdog accused the ride-hailing company of overcharging.
In its decision, PCC said Grab violated its price and service quality commitments when it overcharged riders and its drivers cancelled too many bookings between May and August this year.
The PCC order was based on the audit report submitted by Smith & Williamson, a London-based independent entity tapped to monitor Grab’s compliance with voluntary commitments on price, service quality and non-exclusivity for a year which ended on August 10, 2019.
PCC ordered Grab to return about 14 million pesos (US$276,000) in overcharges to its customers and to pay a fine of about 2 million pesos (US$39,000) for too many driver-initiated ride cancellations this year. Grab’s pricing commitment to PCC is separate and independent from the fare structure of the Land Transportation Franchising and Regulatory Board (LTFRB), the country’s transport regulator.
Full Content: Deal Street Asia
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