Report Published: "Credit Cards in the Philippines"
Issuers heavily promoted credit card ownership and the use of plastic in 2013. Good economic conditions coupled with attractive promotions such as zero interest schemes and substantial rebates and discounts enticed qualified Filipinos to apply for a credit card and to increasingly utilise it as a mode of payment. Hence, the category recorded modest growth in cards in circulation and a double-digit improvement in the volume and value transactions, despite greater competition from other types of...
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