QUEZON CITY (PIA) -- In a bid towards enhancing the safety and security of online shopping, Senator Sherwin “Win” Gatchalian said that the Senate has unanimously passed on its third and final reading, marking a significant stride towards comprehensive regulation for consumer protection in the constantly evolving world of internet commerce.

This landmark legislation, known as the Internet Transactions Act or Senate Bill 1846, seeks to confront the many uncertainties that have plagued online transactions for far too long. Its aim is to establish a more robust, secure, and trustworthy online marketplace, benefiting both consumers and businesses alike.

Senator Gatchalian emphasizes the important role this legislation plays in nurturing our economy's growth. By providing adequate safeguards in a large number of internet transactions, this measure aims to instill trust and spur innovation in the digital marketplace. Notably, the President has acknowledged the urgency of this measure and designated it as a top priority.

“Importante na mapalakas ang kumpiyansa ng ating mga mamimili pati na rin ang mga maliliit na negosyante sa pamamagitan ng pagkakaroon ng sapat na proteksyon sa pagpasok sa iba't ibang internet transactions dahil susi ito sa pagpapalago ng ekonomiya,” Gatchalian said 

Delving into the specifics of the measure, Senator Gatchalian emphasized its overarching mission to cultivate and sustain a thriving e-commerce ecosystem within the country. At its core, this legislation seeks to forge a bond of trust between online merchants and consumers while recognizing the immense value and boundless potential of the digital economy.

One of the most critical aspects of this measure is its comprehensive articulation of the rights, obligations, and liabilities of all parties involved in internet transactions. This includes not only online consumers and merchants but also the digital platforms or e-marketplaces that facilitate these transactions. By defining the roles and responsibilities of each stakeholder, the measure establishes a solid foundation for a safe and transparent online marketplace.

In addition, this legislation empowers the Department of Trade and Industry (DTI) to swiftly and decisively address any violations of the law's provisions. These violations encompass a wide spectrum, ranging from the conduct of e-marketplaces and online merchants to e-retailers, digital platforms, and third-party intermediaries. By ensuring strict enforcement, the DTI plays a vital role in safeguarding the interests of both consumers and businesses involved in online transactions.

Moreover, the measure lays the groundwork for establishing a robust online dispute resolution mechanism. Recognizing that conflicts may arise in internet or e-commerce transactions, this mechanism ensures that all stakeholders have access to a fair and efficient process for resolving disputes. By providing a clear framework for dispute resolution, this measure aims to promote trust and confidence in online transactions.

Senator Gatchalian reiterated the urgent need for effective regulations to safeguard online internet transactions. He emphasized the value of providing adequate protection for consumers and businesses engaged in the purchase and sale of a variety of goods and services through online channels. By setting forth clear rules and guidelines, this legislation creates a level playing field, fostering an environment where businesses can flourish and consumers can shop with confidence.

“Kailangan nating siguraduhin na maisasabatas ang isang epektibong regulasyon para sa mga online internet transactions upang matiyak na may sapat na proteksyon ang mga mamimili at mga negosyante na gagamit ng internet sa pagbili at pagbebenta ng iba’t ibang goods at services,” Gatchalian emphasized.

Notably, the approval of a similar version of this measure by the House of Representatives in December 2022 reflects a collaborative effort to fortify the foundations of e-commerce in the country. Passing the Internet Transactions Act represents a remarkable leap forward in creating a more secure and reliable online marketplace for all stakeholders. (OSWG/PIA-NCR)