E-commerce dominated over other businesses during the entire pandemic period that began in March 2020, a top executive in the credit card industry said.
Although the pandemic has paved the way for the rise of electronic payments, the lockdowns imposed by the government are taking a big toll on the local credit card industry.
If credit card details sensitive personal information, where is it in the Data Privacy Act (DPA) — the country’s data protection law — does it say that?
Under the acquirer-based fee charging (ABFC), which took effect on Wednesday, April 7, banks can set the ATM fees they want to charge on cardholders of other banks who use their machines.
Bangko Sentral ng Pilipinas (BSP) governor Benjamin E. Diokno reminded the public that the ceilings on interest rate, finance charges, and fees on all credit card transactions took effect on Tuesday, Nov. 3.
The Credit Card Association of the Philippines (CCAP) said the economic challenges has not only made card holders hesitant to apply for new credit cards but also made it more difficult for them to settle their credit card debt.
The Bangko Sentral ng Pilipinas (BSP) has approved the setting of an annual interest rate ceiling of 24 percent on all credit card transactions effective November 3 this year.
With online transactions at an all-time high in the country, e-commerce site Lazada Philippines and local lender UnionBank have launched what is dubbed as the country’s first credit card optimized for e-commerce transactions.
The Citibank Visa payWave allows cardholders to simply wave their cards -- in close proximity -- of a Visa payWave reader present in a Citi merchant partner's store to pay for their goods.
