20% of mobile phone users may lose digital payments access | BMPlus

“We urge mobile phone users to register their SIM cards immediately and comply with the nationwide SIM Registration Act (RA 11934), before all unregistered, existing SIM cards are automatically deactivated after April 26, 2023.” Know more:

“We urge mobile phone users to register their SIM cards immediately and comply with the nationwide Subscriber Identity Module Registration Act , before all unregistered, existing SIM cards are automatically deactivated after April 26, 2023,” said Lito Villanueva, founding chairman of the FinTech Alliance Philippines.

“Under this law, we aim to dramatically reduce cases of mule accounts, bots, and fraudulent transactions. This will improve the security, safety, and trust among digital users,” Villanueva added. Based on telcos’ estimate, a huge portion of the 168 million subscriber base are “disposable” SIMs, which are used temporarily.

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