Voyager (IFC-40681)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Philippines
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 16, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
VOYAGER INNOVATIONS, INC.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 15, 2019

Disclosed by Bank Sep 25, 2018


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Project Description

According to IFC website, IFC is seeking to invest in Voyager to support the growth of its financial service unit, Paymaya, which operates a mobile money platform, domestic remittance network, and merchant acquiring business in the Philippines.

People Affected By This Project

i. Access to and Usage of Transaction Accounts: The project will support the roll-out of a mobile wallet that allows users to carry out financial transactions, including domestic remittances, bill payment, airtime load, etc., on their phones in a cost efficient and convenient manner, thereby deepening financial access for the population
ii. Integration - IFC anticipates that the project will result in significant market integration by linking mobile wallet users to a growing array of digital financial and non-financial services, including e-commerce. Voyager's open-loop approach allows for interoperability of transactions and provides access to both traditional and digital accounts, integrating its users into the digital economy.
iii. Competitiveness - As a leading innovator in the market, Voyager will foster competitiveness in the financial sector by triggering changes in the market through the use of its low-cost, open-loop payment platform, which will push its competitors to innovate and offer new products and services at lower costs.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Voyager Innovations Holdings, Pte. Ltd is 100%-owned by PLDT, Inc., a listed entity, through its subsidiary PLDT Communications and Energy Ventures, Inc.                                

Contact Information

Nick Bautista Wilwayco
Head for PR and Communications, Voyager Innovations 
Email Address: pr@voyagerinnovation.com
Office Address: 9F Launchpad Building 9 Sheridan Street, Mandaluyong City, Metro Manila

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/