The Subscriber Identification Module (SIM) card registration law will boost e-commerce and financial technology (fintech) growth in the country, restricting criminal and fraudulent acts using mobile SIM cards.

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“It will associate the mobile number with a subscriber, hurdling the know-your-customer step required when signing up for fintech apps like PayMaya and other digital services,” said Smart Communications Inc. Vice President for Regulatory Affairs Atty. Roy Ibay.

However, “We hope that the subscribers will be given at least a year to prepare and register their SIMs,” he said.

SIM card registration should provide safeguards to avoid disrupting services for prepaid subscribers, ensuring that the use of the national ID is already in place.

Earlier this week, the House of Representatives approved the SIM card registration bill on third and final reading. House Bill No. 5793 mandates every public telecommunications entity (PTE) or direct sellers to require buyers or existing owners of SIM cards to present a valid identification with photo.

They will also need to accomplish a control-numbered registration form.

PTEs and sellers would have to establish a SIM card register and submit its updated database to the Department of Information and Communications Technology (DICT) every six months.

Failure to comply with the measure allows telco entities the authority to automatically deactivate their services to prepaid SIM card customers.

A similar measure is currently pending in the Senate.


Source: Manila Bulletin (https://mb.com.ph/2021/12/14/smart-bats-for-sim-registration/?utm_source=rss&utm_medium=rss&utm_campaign=smart-bats-for-sim-registration)