#Promotion of Digital Payments Act

Promotion of Digital Payments Act Bills concerned: House Bill No. 2455 Status: Approved by House (March 2021), Pending in Senate Committee level (August 2020) Possible effects on tech: National and local government, as well as government-owned and -controlled corporations (GOCCs) are mandated to adopt safe and efficient digital means of receiving payments. In addition, promotion on financial and digital literacy shall also be undertaken along with laying down a framework for incentives to encourage the adoption of digital payments. 2022 that mandates government agencies to adopt digitalization of payments, with a timeline placed at six months after the creation of the implementing rules and regulations (IRR) for full implementation. With Mastercard contactless payments now available on LRT-2, we're making everyday travel more seamless and secure, helping commuters save time and move through their journeys with greater confidence," said Jason Crasto, Mastercard’s Country Manager for the Philippines. The European Commission has issued preliminary findings that Meta may have violated the Digital Services Act (DSA) over the allegedly addictive design of Facebook and Instagram. The investigation was formally launched in May 2024 and is part of the European Union's broader efforts to ensure that major online platforms comply with the Digital Services Act. The company said QR Ph and e-wallets combined represented 76% of total payment volume and 9 in 10 transactions on its platform, pointing to continued growth in mobile-first digital payments among Philippine businesses. Read more in our articles including "New Economic Reform Bills: Impact on PH Tech" and "Mastercard contactless payments now accepted on LRT-2".