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's decision to maintain the current ceilings on credit card transactions strikes a balance between providing consumers with access to credit card financing at steady rates and ensuring the long-term viability of banks/credit card issuers so that they can continue to provide quality service to their clients," central bank Governor Eli Remolona said in a statement.
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