Internet Transactions bill now up for Marcos’ signature to become law

The proposed Internet Transactions Act (ITA) is now up for President Ferdinand “Bongbong” Marcos Jr.’s approval after the House of Representatives adopted the version of the Senate, Senator Mark Villar said Tuesday.

“The House of Representatives adopted in toto the Senate’s version of the Internet Transactions Act,” Villar said during the Senate finance committee hearing on the Department of Trade and Industry’s proposed budget for fiscal year 2024.

According to the House of Representatives’ website, Senate Bill 1846 was adopted by the lower chamber on September 27.

SB 1846 was approved on third and final reading in the Senate last September 25.

Under the bill, digital platforms or e-marketplaces shall be subsidiarily liable with the online merchant or retailer if it failed to perform its responsibilities as laid down in the bill that caused damage to the consumer.

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

Once enacted into law, Villar said the ITA will prevent online scams and assure safety of both consumers and merchants engaged in e-commerce.

In his first State of the Nation Address, Marcos asked Congress to approve the E-Commerce Law which will "establish an effective regulation of commercial activities through the internet or electronic means to ensure that consumer rights and data privacy are protected, innovation is encouraged, fair advertising practices and competition are promoted, online transactions are secured, intellectual property rights are protected, and product standards and safety are observed."—AOL, GMA Integrated News