Consumers who prefer using online transactions would benefit from additional protection and privacy once the proposed Internet Transactions Act is passed into law.

“This is good news for online shoppers and online sellers,” Sen. Mark Villar, chairman of the Senate Committee on Banks, Financial Institutions and Currencies said during his sponsorship of Senate Bill No. 1846 or the proposed Internet Transactions Act of 2023.

“It will address the pressing need to ensure that Filipinos can harness the benefits of the digital world without compromising their privacy and security,” Villar further said.

Once enacted into law, the senator said digital platforms or e-marketplaces shall be held liable, along with the online merchant or retailer, if they failed to perform their responsibilities as laid down in the bill and caused damage to the consumer.

The bill also seeks to prevent online scams and assure safety of both consumers and merchants engaged in e-commerce.

The measure also establishes a code of conduct for all companies involved in e-commerce in order to safeguard and advance consumer interests.

“Maganda po na (It’s good that) we discuss the concerns of our fellow senators. The purpose is to make ITA future proof so that its application will not be limited especially sa hindi pa available na (to non-available) business model at this point," he said.

Villar also vowed to ensure that the Senate’s version of the bill would be “well-crafted” and will be an impactful law.

According to the lawmaker, it is important to create an environment where individuals and businesses can confidently participate in the digital world.

“We are now looking forward to the period of amendments,” he said.

Villar said he hopes the period of amendments on the bill to start next week “so we can reflect all the comments and concerns raised by our colleagues.”