Happy Friday, ka-Ninjas! Before we end the week, here’s a roundup of the top business and ecommerce news for you.
More Filipino consumers using business messaging platforms
MORE Filipino consumers are using online messaging platforms to reach businesses, with firms also recognizing the importance of engaging with customers, a study showed.
A 2022 study on business messaging by Meta and Boston Consulting Group (BCG) found that over 40% of Filipinos messaged businesses more frequently now versus before the coronavirus pandemic.
Three in five Filipino consumers also chat with businesses at least once every two to three weeks. This trend was similar across all age groups, particularly among millennials and Gen Zs who message businesses up to eight times a month.
Full story on Business World Online
House panel OKs tax on plastics, e-commerce
HOUSE Committee Chairman Albay Rep. JoeySalceda particularly noted that the proposed Digital Economy VAT law will close ambiguities in the VAT system that have allowed some digital services and goods sold over the digital space to remain outside VAT-coverage.
The proposal seeks to impose a 12-percent VAT on providers of online services like the Netflix, Spotify and Lazada platforms.
More details on Business Mirror
DTI urges small firms to tap e-commerce
THE Department of Trade and Industry (DTI) said it is working to launch an e-commerce platform geared for small businesses in the Philippines, which will allow them to grow into medium or large enterprises and increase their contribution to the country’s economy.
Globally, MSMEs constitute 80 percent of all enterprises. These groups of enterprises in the Philippines account for 99.5 percent of registered enterprises.
Read more on The Manila Times
GCash hauls in 66 million users
MOBILE wallet GCash has registered 66 million users as of mid-2022 because the company “chose to collaborate rather than compete” president and CEO Martha Sazon told a recent Mobile 360 Asia Pacific FinTech Summit.
Collaborations with banks and other fintech providers helped GCash grow during the pandemic and add six million users from the first quarter of this year to 66 million at the end of the second quarter, she pointed out.
More on The Manila Bulletin Online
No evidence riders get minimum wage through gig labor — report
ACCORDING to the Fairwork Philippines 2022 report, there is no evidence that drivers and riders earn at least the daily minimum wage of P537 per day ($US 9.70) after work-related costs despite gigging for top digital platforms — namely, Angkas, Borzo (formerly Mr. Speedy), Foodpanda, Grab Car, Grab Express, Joyride, Lalamove, TokTok, and Transportify.
The baseline report, launched on Aug. 9, assessed these platforms against its five principles of fairness (fair pay, fair conditions, fair contracts, fair management, and fair representation), giving each a fairness score out of 10.
Get the full story on Business World Online
Credit card issuers report 21% jump in fraud cases
FRAUDULENT credit card activities via remote and other digital payment channels jumped by 21 percent in the Philippines since the start of the pandemic, according to the Credit Card Association of the Philippines (CCAP).
This prompted the group, comprised of country’s 18 major credit card players, to further strengthen its advocacy toward the responsible use of credit cards and enhanced protection of cardholders.
Read more on PhilStar.com
Telcos: Cybercrime more profitable than illegal drugs
CYBERCRIME will cost the world more than $10 trillion annually in 2025, making the illicit industry more profitable than the cross-border trade of illegal drugs.
For this reason, “It is best to adopt a culture of cybersecurity. We must be mindful of who we share our personal information with,” Angel Redoble, First Vice President and Chief Information Security Officer of the PLDT Group, underscored.
More on Manila Bulletin Online
Business Insights & ECommerce Tips
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