The FinTech Alliance PH, together with Better Internet PH and over 10 organizations—including Philippine business groups, Joint Foreign Chambers, industry associations, and civil society—commends the Senate for the passage of Senate Bill 2699, or the Konektadong Pinoy Act, on its third and final reading on February 5, 2025.
Once signed into law, this landmark legislation will drive critical advancements in the country’s broadband infrastructure, ensuring that all Filipinos can reap the benefits of digitalization. To encourage greater private sector and community investment in broadband development, the bill aims to:
• Streamline regulations by simplifying the registration and qualification process for internet network and service providers;
• Accelerate network deployment through infrastructure sharing and a more efficient permits approval process; and
• Expand wireless internet access by making radio spectrum resources available to more providers, particularly in rural areas.
By updating outdated, analog-era policies that have hindered the growth of internet connectivity, the Konektadong Pinoy Act paves the way for a more inclusive, competitive, and digitally empowered Philippines.
“This achievement represents a major step forward for the country’s digital transformation,” said Lito Villanueva, founding chairman of the FinTech Alliance PH. “With faster, more reliable internet, we unlock new opportunities for economic growth, education, financial inclusion, and innovation.”
The passage of this bill would not have been possible without the leadership and support of President Ferdinand Marcos Jr., Senator Alan Peter Cayetano, and other senators, as well as National Economic and Development Authority Secretary Arsenio Balisacan and Department of Information and Communications Technology Secretary Ivan Uy.
The FinTech Alliance PH, Better Internet PH, and their partners urge swift enactment of the Konektadong Pinoy Act and remain committed to working with the government and stakeholders to turn this vision into reality.
FinTech Alliance PH is the country’s first and biggest digital industry association established in 2017 comprised of over 100 corporate members, collectively generating more than 95% of retail digital financila transaction volume in the Philippines today.
