Credit card receivables posted double-digit growth of 29.0% year-on-year as of end-May 2023, higher than the 17.1% registered a year ago, BSP data showed.

The BSP, which reviews the interest rate ceilings on credit card transactions every six months, supervises credit card issuers and acquirers under Republic Act 10870 or the Philippine Credit Card ...

MANILA, Philippines — The Credit Card Association of the Philippines (CCAP) has partnered with the Bangko Sentral ng Pilipinas (BSP) to raise consumer awareness on the responsible use of credit ...

The BSP will review the ceilings on credit card transactions after six months. The move followed the earlier decision of the Monetary Board in January, where it hiked the credit card cap to 3% from 2% ...

THE Monetary Board decided to retain the existing ceilings on credit card transactions, according to the Bangko Sentral ng Pilipinas (BSP). Based on Circular 1165, the maximum interest rate or ...

The BSP in August 2023 kept the maximum interest rate on unpaid outstanding card balance at 3% per month or 36% a year. The existing ceiling on the monthly add-on rate that credit card issuers can ...

BSP data show that credit card receivables surged by 29 percent to about P600 billion as of the end of May 2023, faster than the 17.1 percent posted at the same period a year ago.

CURRENT caps on credit card charges will be retained to encourage consumer spending and at the same time allow lenders to remain viable, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday. "The BSP ...

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has granted Zed Financial PH Inc., a credit-led neobank, a certificate of authority to operate as a standalone credit card issuer.

Credit card startup Zed secures license from BSP By: Alden M. Monzon - Reporter / @AldenMonzonINQ Philippine Daily Inquirer / 08:48 AM June 27, 2024 Share: ...

The Bangko Sentral ng Pilipinas has kept existing cap on credit card charges to encourage consumers to borrow money from banks and spur spending in the consumption-reliant Philippine economy. This ...