Vietnamese loyalty points company Society Pass announces expansion into PH

Vietnam-based loyalty points company Society Pass (SoPa) has announced its intention to expand into the Philippines by acquiring local e-commerce businesses in its ecosystem.

The announcement comes in line with the release of the Department of Trade and Industry’s Philippines E-Commerce Roadmap 2022 earlier this year. According to DTI, e-commerce currently contributes to 3.4 percent of the country’s GDP with the government aiming to grow the sector to 5.5 percent of GDP or US$24 billion (P2.1 trillion) by 2022.

In addition, the Philippines remains the world’s top internet and social media user, with over 80 percent of the population participating in some form of e-commerce in the last year.

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