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 ...
Credit card issuers see strong growth, lower delinquency rate
Maria Magdalena Surtida, president of the Credit Card Association of the Philippines (CCAP), told The STAR that receivables of credit card issuers jumped by 18.5 percent in the second quarter from a year ago. MANILA, Philippines — Credit card issuers expect sustained growth in receivables and lower delinquency rate as the country continues to recover ...
Watch out for new credit card scams
Fraudulent credit card activities via remote and other digital payment channels have increased by 21 percent in the Philippines since the COVID-19 pandemic erupted as customers shifted to remote and other digital payments to deal with mobility restrictions, according to Credit Card Association of the Philippines (CCAP). CCAP, comprising the country’s 18 major credit card ...
CCAP calls for tighter measures against SIM swap fraud
The Credit Card Association of the Philippines (CCAP) has put the pressure on the telecommunication sector, its regulators and lawmakers to apply, execute and enact effective measures to stop credit card fraud through SIM card swap. CCAP said on Thursday, Jan. 6, that it has reached out to major telco players such as Ayala Group’s ...
CCAP at 41: Helping drive agenda toward cash-lite Philippines
As it celebrates over four decades of existence, the Credit Card Association of the Philippines (CCAP) provides Filipinos with better access to credit cards. This complements the goal of the Bangko Sentral ng Pilipinas (BSP) to transform the country from a cash-heavy to a cash-lite economy. MANILA, Philippines — Cash is no longer king as ...
Credit card issuers see more challenges
MANILA, Philippines — Credit card issuers expect delinquency rate to be more challenging despite a lower default rate in the second quarter, according to the Credit Card Association of the Philippines (CCAP). Alex Ilagan, executive director at CCAP, told The STAR delinquency rate of the credit card industry improved to 6.1 percent in end-June from ...
As cyberattacks rise, remote workers advised to invest in security
Working from home keeps you safe from the virus…pero safe ka ba sa mga fraudsters? According to Bangko Sentral ng Pilipinas (BSP), 13% (out of 20,000) ng mga concerns na kanilang natanggap noong 2020 ay related sa fraudulence, unauthorized transactions involving deposits, at iba pang mga online services! Protect yourself! Check out these common types ...
Learn Ways On How You Can Protect Yourself From Credit Card Fraud
Dahil sa pandemic and lockdown restrictions, nagbago ang lifestyle nating lahat at marami na ang lumipat sa online shopping. From groceries, plants, and motorcycles, halos lahat ng bagay ay pwede ng mabili online! Pero tandaan, this type of convenience presents a potential risk. Be one step ahead! Read the different types of fraudsters at alamin ...
It’s sale season! Here are ways you can protect yourself from credit card fraud
From budgeting our expenses to impulse buys, naging buwan buwan na ang ating pagsh-shopping dahil sa mga monthly promos and sales! Alam mo ba na one of the most used words in the e-commerce space is “budol”? Nakakatuwa nga sa una until the real “mangbu-budol” comes! Don’t let these fraudsters get in your way of ...