With more Filipinos turning to the internet to conduct daily businesses under the new economy, Senator Win Gatchalian is pushing for the Internet Transactions Act to make transactions easier and faster and strengthen the country’s digital economy.
Gatchalian, who is vice chairman of the Senate Committee on Economic Affairs has filed Senate Bill No. (SBN) 1591 or the proposed Internet Transactions Act, to make buying, selling and other transactions faster with just a tap of a finger.
Gatchalian said e-Commerce provides consumers with time-saving options and access to swift delivery of goods and services. It also presents value for money because from the seller’s perspective, set-up costs are lower and operating costs are kept at a minimum. Macon Ramos-Araneta
He admitted that the Philippines’ e-commerce is still at its developing stage despite the Philippines’ estimated 76 million active internet users and high internet penetration rate (71% vis-à-vis global average of 54%), longer hours spent daily on the internet (10 hours vis-à-vis a global average of 6 hours 42 minutes), and very high social media penetration for population aged 13+ (99% vis-à-vis a 59% global average).