The landmark law Internet Transactions Act (ITA) of 2023, signed by President Ferdinand Bongbong Marcos, Jr. on December 5, 2023, is expected to protect Filipino shoppers from online scams.
The ITA serves to boost safety, trust, and growth in e-commerce, benefiting everyone in the Filipino community. According to the President, the move shows the country’s commitment and readiness to embrace the digital economy.
One way that ITA can benefit online consumers is that it cracks down on unfair trade practices. Therefore, Filipino consumers can protect themselves from misleading ads, fake products, as well as hidden fees.
Also read: PH working with other countries to fight online scams
An online business database will also let buyers check the sellers’ credentials. This database will track the sellers’ reputation before shoppers can even buy an item.
If a buyer falls into online scams, the ITA allows them to get their voices heard. The landmark law encourages a government-wide complaint system, serving as a platform for buyers to report their problems and hold businesses accountable.
Aside from that, shoppers can enjoy faster resolutions as the DTI’s new e-commerce bureau has the authority to investigate complaints and implement fast penalties for violators.
The ITA does not only benefit buyers but sellers as well. It creates fair competition among businesses by setting clear rules and standards. It also states that the DTI will offer support and training to equip companies to explore the e-commerce landscape.
Moreover, the ITA helps boost the Philippine economy by creating more jobs in logistics, technology, marketing, and other related industries, which is one of the President’s goals for the country.
Just this week, President Marcos announced that the Philippines had accumulated PHP771.6 billion worth of total investment pledges from Japan, which is expected to create 40,200 jobs.
Also read: Philippines to create over 40K jobs from Japan investment pledges
