Use of Credit Cards Still Alien to Filipinos, Survey Shows
Byline: MARS W. MOSQUEDA JR.
CEBU CITY -- The use of credit cards to purchase goods or pay bills for services is still alien to most Filipinos, with only four percent availing themselves of this jet-age currency system, a nationwide survey said.
James Dixon, Visa International manager for the Philippines, said 84 percent of Filipinos surveyed by the National Statistics Office still carry cash and use this in their transactions.
Carrying cash is risky, said Dixon, because it makes one a magnet for robbers and other criminals.
Only four percent of those surveyed are using cards while five percent used cheques in their transactions. Seven percent use bank-to-bank transactions, Dixon said.
Citing convenience and safety, said using cards -- credit, debit, or prepaid cards -- is the most convenient, safest, and rewarding form of doing financial transactions, whether online or actual, as this would prevent one from being magnet to robbers.
"You should ask your banks about debit or credit cards and try these out because it is their convenient and safer than carrying cash all the time," said Dixon in a press conference in Cebu City.
Dixon was in Cebu City for the nationwide series of financial literacy campaign program of Visa, which aims to educate students and young professionals on proper financial planning, budgeting, and spending.
The literacy program will be carried out to select colleges and universities …
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Publication information: Article title: Use of Credit Cards Still Alien to Filipinos, Survey Shows. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: September 4, 2006. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2006 Gale Group.
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