Congress Eyes Implementation Of Internet Transactions Act & Open Access InData Transmission Act

Internet Transactions Act

Senate Bill No. 1846 entitled "An Act Protecting Consumers and Merchants Engaged in Internet Transactions, Creating for this Purpose the Electronic Commerce Bureau, Appropriating Funds therefor, and for other Purposes" (Internet Transactions Act of 2022) is currently pending in the Senate. The bill aims to promote and maintain a robust e-commerce environment in the country by building trust between online merchants and consumers. Further, it seeks to ensure effective regulation of commercial activities through the internet or electronic means.

The Internet Transactions Act of 2022 will apply to any stage of all business-to-business and business-to-consumer internet transactions, including those related to the internet retail of consumer goods and non-financial services, online travel, online media, and online delivery. However, the Internet Transactions Act of 2022 will not cover consumer-to-consumer transactions and financial products