Jonathan Frederic De Santos

Article (news)

Digital payment

Lyza Aquino

ABS-CBN News

MANILA — The House of Representatives on Wednesday approved on second reading House Bill No. 8468, which seeking to establish a nationwide digital payments system.Approval came after a brief period of debate on concerns over data privacy protections, financial exclusion, and transaction costs.House Bill 8468 aims to expand the use of digital payment systems across multiple sectors, including transactions with government and between private entities.<div> </div><div>CONCERNS ON DATA PRIVACY</div>During deliberations, ACT Teachers Party-list Rep. Antonio Tinio raised questions on the scope of the proposed digital payments framework and the adequacy of its privacy protections.&quot;Ang pangunahing concern dito is really securing the systems. So parang mandato sa mga negosyo, make sure your systems are secure,&quot; he said, adding there have been &quot;notorious cases&quot; of hacking and leakage of private information in the past.The lawmaker pointed out that the proposed framework does not explicitly specify who may access transaction data once digital payments become widespread.He compared the bill’s language with the strict confidentiality requirements governing bank deposits.“At least ‘pagka ma-establish ang batas po when it comes to banks... there’s the Bank Secrecy Law. And there’s absolute secrecy.”<div><a href="https://www.abs-cbn.com/news/business/2026/3/10/enhanced-cross-border-digital-payments-to-be-discussed-at-asean-2026-in-ph-1832">Enhanced cross-border digital payments to be discussed at ASEAN 2026 in PH </a></div>Under bank secrecy rules, financial information generally cannot be disclosed without a court order, except under limited circumstances.Tinio argued that similar clarity is absent in the proposed digital payment law, particularly regarding metadata, or information about transactions such as timing, frequency, and parties involved.“Metadata is more easily accessed. Meaning to say, sino ang tinext? Anong number ang mine-message mo? Sinong mga numbers ang nag-message sa’yo? Anong oras? Kailan? How often and so and so forth.”He warned that such data could potentially be used to infer personal behavior and relationships, raising concerns about privacy and civil liberties.He said that Section 14 of the bill only briefly discusses information security and data privacy.“I find two sentences. Dalawang sentences lang po. Eight lines,&quot; Tinio said.Tinio said the provision focuses primarily on system security rather than clear limits on access to citizens’ financial information.<div> </div><div>TIENG: SAFEGUARDS ALREADY IN EXISTING LAW</div><div> </div>In response, the bill’s sponsor, House Committee on Banks and Financial Intermediaries chairperson Irwin Tieng of Manila&#x27;s 5th District, said existing laws and regulations already provide safeguards.“Pagdating po naman sa transaksyon, any transaction naman po, ang data na ’yan ay pag-aari ng BSP and at the same time pag-aari ’yan ng may-ari ng gumawa ng transaksyon.”Tieng said the handling of transaction data would remain governed by existing data privacy legislation and regulations imposed by the Bangko Sentral ng Pilipinas on payment service providers.He added that compliance with cybersecurity and privacy standards is already a requirement for accreditation as a payment service provider.Despite the sponsor’s assurances, Tinio argued that stronger and more explicit protections should be written into the bill itself.He warned that, when combined with other existing digital systems, the measure could create a broader infrastructure capable of monitoring financial behavior across the population.“Meron na tayong National ID system… Meron na tayong mandatory registration of SIM cards. Tapos ngayon… the push for a digital payment system. Essentially, this creates a total surveillance structure for all citizens.”He cautioned that without clear legal safeguards, such systems could enable greater state surveillance or misuse of personal financial data.Beyond privacy concerns, Tinio identified two additional issues with the bill: A digital divide and the potential imposition of transaction fees.“Yung mga walang cellphone, walang access sa internet. Actually nangyayari na po ’yan. Kailangan pumunta ka po sa bayan para merong maayos na signal para magamit mo itong app na ’to,&quot; he said.Tinio noted the bill permits payment service providers to charge fees even for micro-transactions, which could increase costs for ordinary consumers. However, no committee or individual amendments were proposed, leading the leadership to close the amendment stage shortly afterward.House Bill 8468 will still need approval on third and final reading.

The House of Representatives on Wednesday approved on second reading House Bill No. 8468, a measure seeking to establish a nationwide digital payments system, after a brief period of debate in which lawmakers raised concerns over data privacy protections, financial exclusion, and transaction costs.

The House of Representatives on Wednesday approved on second reading House Bill No. 8468, a measure seeking to establish a nationwide digital payments system, after a brief period of debate in which lawmakers raised concerns over data privacy protections, financial exclusion, and transaction costs.

House approves on 2nd reading bill seeking to regulate use of digital payments

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House approves on 2nd reading bill seeking to regulate use of digital payments

Lyza Aquino,

ABS-CBN News

Published March 12, 2026 01:00 AM PHT

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Updated March 12, 2026 09:48 AM PHT

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House of Representatives

House Bill 8468

Quezon City

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