This means that interest rates or finance charges on credit card transactions will be steady at 2% per month, or 24% annually, the BSP said in a statement on Thursday. The monthly add-on charge on ...

THE Credit Card Association of the Philippines (CCAP) said the decision of the Bangko Sentral ng Pilipinas (BSP) to maintain the interest rate ceiling on credit cards was the right call.

The ceilings on credit card transactions are subject to review following a six-month period. “The BSP’s decision to maintain the current ceilings on credit card transactions strikes a balance ...

Based on the latest BSP data, credit-card receivables posted double-digit growth of 29 percent year-on-year as of May 2023. This was higher than the 17.1 percent registered in the same period last ...

The Bangko Sentral ng Pilipinas (BSP) on Friday announced the adjustment in the interest rate ceiling on credit card transactions. The BSP said this adjustment will increase the maximum interest rate ...

The Bangko Sentral ng Pilipinas (BSP) is tightening its watch over the credit card businesses of local banks to ensure that consumers are protected amid the increasing use of “plastic” money ...

THE BANGKO SENTRAL ng Pilipinas (BSP) said it will review the current cap on interest rates and other charges imposed by credit card companies in January. This after the Monetary Board agreed last ...

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 Bangko Sentral ng Pilipinas’ policy-setting Monetary Board has maintained the 24% interest rate per year cap on all credit card transactions, the central bank said Tuesday. In a statement, 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.

THE BANGKO SENTRAL ng Pilipinas (BSP) is likely to decide within the month if it will keep or adjust the current interest rate cap on credit card transactions, a senior official said. BSP Deputy ...

Although both the Bangko Sentral ng Pilipinas (BSP) and Credit Card Association of the Philippines (CCAP) have urged banks to start making their cards more sustainable, there are no hard rules or ...