CCAP launches campaign to improve understanding of credit card terms
THE CREDIT CARD Association of the Philippines (CCAP) is launching an awareness campaign simplifying credit card terminologies to help improve financial literacy. The campaign is meant to “bridge the gap between regulatory language and everyday understanding,” CCAP said in a statement on Monday. “This initiative aims to ensure that credit cardholders can easily grasp the essential ...
[Finterest] Credit card 101: How does it work, and which one is for you?
MANILA, Philippines – More Filipinos have credit cards now than ever before. As of March 2024, there were more than 13.9 million cards in force across the Philippines based on the Credit Card Association of the Philippines’ (CCAP) 1st quarter survey. This was 2.1 million cards (17.8%) more than the same period last year, CCAP ...
CCAP: Credit card fraud cases rise as AI tools gain popularity
AS more Filipinos shift to digital payments, fraudulent credit card activities have been on the rise since the start of the pandemic in 2020. Credit Card Association of the Philippines (CCAP) said on Tuesday that fraud cases in remote and other digital payment channels involving credit cards have “significantly increased” in the Philippines. “With the ...
AS CONSUMERS RELY ON PLASTIC TO PAY BILLS Credit card issuers expect strong growth
The Credit Card Association of the Philippines (CCAP) sees sustained growth in receivables and billings as more and more consumers rely on credit cards to extend their purchasing power. Alex Ilagan, executive director of CCAP, told The STAR that credit card receivables jumped by 30 percent in the first quarter from the same period a ...
CCAP pushes cards with travel benefits
The Credit Card Association of the Philippines (CCAP) is encouraging credit card holders that are frequent flyers or regular travelers to make use of cards with travel perks for maximum benefits. CCAP Executive Director Alex Ilagan said Tuesday, May 14, that the credit card market constantly releases new products and programs specifically geared towards travelers, ...
CCAP Partners with KasKasan Buddies
Join us in our relentless pursuit of promoting responsible credit card usage through our strategic partnership with KasKasan Buddies (KKB), a leading online finance community dedicated to empowering individuals with sound financial knowledge. While credit cards offer undeniable convenience and perks, the potential for misuse leading to overwhelming debt and stress is equally real. In ...
CCAP Partners with Collectius
In line with its objective to protect the credit card consumers, CCAP partnered with Collectius, a debt management company. Since credit card issuers sell their delinquent loan portfolios to 3rd party debt collectors ,CCAP wants to ensure that cardholders who pay off their debt are properly documented. To make this possible, CCAP partnered with Collectius ...
#CREDITREADY: REBUILDING YOUR CREDIT HISTORY AND THE BASICS OF BUSINESS LOAN
Join CIC, your #PHCreditRegistry and repository of credit information, in its second CIC Academy webinar series this 28 April in celebration of the Credit Consciousness Week. Our speakers from CIC, Philippine Finance Association (PFA), and Bank of the Philippine Islands (BPI), will the share with you the basics of a business loan and how your ...
SIM registration act to reduce credit card fraud: Industry group
MANILA – The enactment of the SIM registration law will help curb credit card fraud and boost digitalization in the country, the Credit Card Association of the Philippines (CCAP) said on Monday. President Ferdinand Bongbong Marcos Jr earlier signed Republic Act No. 11934 or the SIM Registration Act, which was expected to address SMS-linked and other types ...
Bad debts of credit card issuers ease in July
MANILA, Philippines — The soured loans of credit card issuers improved to 5.7 percent in end-July after peaking at 10.1 percent during the height of the COVID lockdowns in November 2020, according to the Bangko Sentral ng Pilipinas. BSP Governor Felipe Medalla said during the virtual celebration of the 42nd anniversary of the Credit Card ...