The Market Monitor Minding the Nation's Business
The Department of Trade and Industry (DTI) has extended to Dec. 31 the registration deadline for the E-Commerce Philippine Trustmark, giving micro, small, and medium enterprises (MSMEs) more time to comply.
DTI Secretary Cristina Roque stressed the badge is meant to protect legitimate businesses from scammers and boost consumer confidence.
“The Trustmark is not a regulation to burden businesses but a tool that shields enterprises from scammers who undermine consumer confidence. Our aim is to make it simpler for consumers to identify and trust legitimate sellers so entrepreneurs can focus on growing their business,” Roque said Friday.
She added that major players such as TikTok, Lazada, and Shopee have already secured their badges, with more expected to follow.
As of Sept. 19, over 10,000 businesses have applied for the Trustmark, according to DTI E-Commerce Bureau Officer-in-Charge Eryl Royce Nagtalon. He noted there are around 1.2 to 1.3 million registered MSMEs in the country, with some 500,000 engaged in e-commerce.
The Trustmark is mandated under Republic Act 11967 or the Internet Transactions Act of 2023, and Department Administrative Order 25-07. Applicants must pay an annual P1,000 application fee, P100 web administration fee, and P30 documentary stamp tax.
Barangay Micro Business Enterprises are exempted from the first-year fees.
DTI Assistant Secretary Marcus Valdez II said the exemption is meant to help small enterprises scale up. “If they are still in that sector after one year, then it means DTI has to do more things through our Negosyo Centers to help them grow into bigger businesses,” he said.