The Department of Trade and Industry (DTI), through its E-Commerce Bureau (ECB), has awarded the E-Commerce Philippine Trustmark to First Circle, making it the first SME financing company to receive this government-issued digital badge.
The conferment took place last Aug. 11.
The Trustmark, established pursuant to Republic Act No. 11967 or the Internet Transactions Act (ITA) of 2023, serves as an official recognition of entities engaged in Internet transactions that demonstrate adherence to safe, transparent, and fair business practices.
It affirms compliance with the ITA and other applicable laws, rules, and standards governing e-commerce in the Philippines.
DTI-ECB officer-in-charge Eryl Royce Nagtalon emphasized that the Trustmark is not an endorsement, nor does it serve as a license to engage in e-commerce. Rather, it functions as a regulatory instrument to foster consumer confidence.
“Having a DTI Trustmark helps consumers to easily identify legitimate and accountable online businesses. It serves as a mark of compliance with legal and regulatory standards, providing consumers with greater assurance that they are engaging with trustworthy businesses,” he said.
The DTI expects broader adoption of the Trustmark program among financial service providers, including digital banks, e-wallet operators, and fintech platforms.
“As more businesses apply for a Trustmark, consumers will recognize it as a mark of safety and trust,” Nagtalon added.
He underscored that the initiative is designed not only to strengthen consumer protection but also to encourage greater prudence and discernment in online transactions.
First Circle CEO Patrick Lynch affirmed the company’s commitment to regulatory compliance and consumer protection, highlighting that the Trustmark affirms its long-standing dedication to transparency and integrity.
“Since 2016, we have placed SMEs at the center of our operations. The DTI Trustmark validates that our commitment to responsible financing is consistent with the national framework for sustainable digital commerce,” Lynch said.
The DTI reiterated its call for other legitimate financing and lending institutions to apply for the Trustmark, noting that wider participation will enhance accountability in the online financial services sector.
The agency stressed that the program is a critical component of building a safer, more reliable, and inclusive e-commerce environment in the country.
