#visacard — Public Fediverse posts

Philippines Among The Weakest In ASEAN In Credit Card Penetration

When it comes to credit card penetration within the Association of Southeast Asian Nations (ASEAN), the Philippines is still among the weakest as the number of adult Filipinos who own credit cards remains very low, according to a Manila Bulletin news report.

Be reminded that the Philippines is experiencing weak economic growth, high inflation, and has been weak when it comes to attracting foreign direct investment.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Only three percent of adult Filipinos own credit cards, placing the country among the laggards in the Association of Southeast Asian Nations (ASEAN), with the gap most pronounced compared to advanced Asia-Pacific economies.

In Asian emerging markets (EMs), the Philippines trails only Cambodia’s one percent and Bangladesh’s two percent, Visa Business and Economic Insights noted in a report last Tuesday, July 14, citing the 2024 update of the World Bank’s Global Findex Survey.

Meanwhile, the country was outpaced by seven other Asian EMs, including India (five percent), Indonesia and Vietnam (both six percent), Sri Lanka and Thailand (both eight percent), Malaysia (13 percent), and China (46 percent).

This low penetration drives Filipinos to rely heavily on informal and unregulated lending alternatives, which do not help build formal credit histories.

“Across markets such as India, the Philippines, and Indonesia, borrowing from family, moneylenders, or gold-backed loans is widespread due to ease of access and familiarity,” read the report authored by Visa principal Asia-Pacific economist Simon Baptist and Asia-Pacific economist Minakshi Barman.

Meanwhile, advanced Asia-Pacific economies have mature financial systems, with credit card penetration rates reaching nearly three-fourths of adults aged 15 and above. Hong Kong had the highest penetration rate at 72 percent, followed by Japan at 70 percent, South Korea at 68 percent, Taiwan at 64 percent, New Zealand at 57 percent, Australia at 51 percent, and Singapore at 42 percent.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you know anyone in your local community who successfully secured credit cards over the past six months? Do you have friends who already applied for credit cards? What do you think Filipinos are most afraid of when it comes to using credit cards? Do you think the weakening economic growth of the Philippines will discourage Filipinos from applying for credit cards?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Among The Weakest In ASEAN In Credit Card Penetration

When it comes to credit card penetration within the Association of Southeast Asian Nations (ASEAN), the Philippines is still among the weakest as the number of adult Filipinos who own credit cards remains very low, according to a Manila Bulletin news report.

Be reminded that the Philippines is experiencing weak economic growth, high inflation, and has been weak when it comes to attracting foreign direct investment.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Only three percent of adult Filipinos own credit cards, placing the country among the laggards in the Association of Southeast Asian Nations (ASEAN), with the gap most pronounced compared to advanced Asia-Pacific economies.

In Asian emerging markets (EMs), the Philippines trails only Cambodia’s one percent and Bangladesh’s two percent, Visa Business and Economic Insights noted in a report last Tuesday, July 14, citing the 2024 update of the World Bank’s Global Findex Survey.

Meanwhile, the country was outpaced by seven other Asian EMs, including India (five percent), Indonesia and Vietnam (both six percent), Sri Lanka and Thailand (both eight percent), Malaysia (13 percent), and China (46 percent).

This low penetration drives Filipinos to rely heavily on informal and unregulated lending alternatives, which do not help build formal credit histories.

“Across markets such as India, the Philippines, and Indonesia, borrowing from family, moneylenders, or gold-backed loans is widespread due to ease of access and familiarity,” read the report authored by Visa principal Asia-Pacific economist Simon Baptist and Asia-Pacific economist Minakshi Barman.

Meanwhile, advanced Asia-Pacific economies have mature financial systems, with credit card penetration rates reaching nearly three-fourths of adults aged 15 and above. Hong Kong had the highest penetration rate at 72 percent, followed by Japan at 70 percent, South Korea at 68 percent, Taiwan at 64 percent, New Zealand at 57 percent, Australia at 51 percent, and Singapore at 42 percent.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you know anyone in your local community who successfully secured credit cards over the past six months? Do you have friends who already applied for credit cards? What do you think Filipinos are most afraid of when it comes to using credit cards? Do you think the weakening economic growth of the Philippines will discourage Filipinos from applying for credit cards?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Bank of Africa Tanzania Visa Classic Blue Card Expands Access to Everyday Digital Payments
#BankOfAfrica #VisaClassicBlueCard #TanzaniaBanking #VisaCard #DigitalPayments #CashlessPayments #BankingNews #DebitCard #FinancialServices #AfricaBanking #OnlinePayments #ATMAccess #RetailBanking #VisaPayments #FintechAfrica

https://www.cashlesstime.com/2026/05/bank-of-africa-tanzania-visa-classic.html?m=1

Bank of Africa International Blue Card: Your Global Financial Companion
#BankOfAfrica #VisaClassicBlueCard #TanzaniaBanking #VisaCard #DigitalPayments #CashlessPayments #BankingNews #DebitCard #FinancialServices #AfricaBanking #OnlinePayments #ATMAccess #RetailBanking #VisaPayments #FintechAfrica

https://www.cashlesstime.com/2025/05/bank-of-africa-international-blue-card_6.html?m=1

Why Bank of Africa Ghana’s VISA Blue Card Is Gaining Attention as Digital Banking Expands in 2026
#BankOfAfrica #VISABlueCard #GhanaBanking #DigitalPayments #CashlessBanking #VisaCard #OnlinePayments #BankingNews #GhanaFinance #DigitalBanking #FinancialServices #AfricaBanking #ElectronicPayments #FintechNews #PaymentSolutions

https://www.cashlesstime.com/2026/05/why-bank-of-africa-ghanas-visa-blue.html?m=1

#DIDit #DUTgemacht

replaced #Feedly #RSS-Reader with
#Nextcloud #News with -clients #Gnome #Newsflash and #Android #Readrops

I've decided to favor my German #GiroCard instead of my #VisaCard and #gpay.

#DIDay https://di.day/

US residents 🇺🇸

Found a free entry giveaway for a $1,000 Visa prepaid card.
No payment required — takes about a minute to complete.

Details & entry here 👇
https://url-shortener.me/A307

#Giveaway #USOnly #VisaCard

Für die fünf Personen dürfte ihr digitales Leben vorbei sein. Kein #Apple, kein #Google. Kein #Amazon, keine #Visacard keine #Mastercard, kein #X, kein #Whstsapp. Digitale Steinzeit ist angesagt. Da kann sich dann jeder Europäer schon mal angucken, wie das funktioniert und was das für einen selber bedeutet.
https://www.t-online.de/nachrichten/ausland/id_101057010/europaeische-zensur-usa-verhaengen-sanktionen.html #Zensur #Sanktionen #USA

Für die fünf Personen dürfte ihr digitales Leben vorbei sein. Kein #Apple, kein #Google. Kein #Amazon, keine #Visacard keine #Mastercard, kein #X, kein #Whstsapp. Digitale Steinzeit ist angesagt. Da kann sich dann jeder Europäer schon mal angucken, wie das funktioniert und was das für einen selber bedeutet.
https://www.t-online.de/nachrichten/ausland/id_101057010/europaeische-zensur-usa-verhaengen-sanktionen.html #Zensur #Sanktionen #USA

Hong Leong Bank now supports Apple Pay, currently limited to Visa cards #apple #applemalaysia #applepay #applepaymalaysia #apps #digitallife #featured #hongleong #hongleongbank #hongleongislamicbank #news #smartphones #tech #visa #visacard #visacreditcard #visadebitcard #visamalaysia

https://soyacincau.com/2025/12/16/hong-leong-bank-visa-apple-pay-support/

Hong Leong Bank now supports Apple Pay, currently limited to Visa cards #apple #applemalaysia #applepay #applepaymalaysia #apps #digitallife #featured #hongleong #hongleongbank #hongleongislamicbank #news #smartphones #tech #visa #visacard #visacreditcard #visadebitcard #visamalaysia

https://soyacincau.com/2025/12/16/hong-leong-bank-visa-apple-pay-support/

TnG eWallet Visa Card Transactions To Use TapSecure Starting 17 March #ewallet #fintech #tapsecure #tng #visacard

https://www.lowyat.net/2025/345370/tng-ewallet-visa-card-tapsecure/

TnG eWallet Visa Card Transactions To Use TapSecure Starting 17 March #ewallet #fintech #tapsecure #tng #visacard

https://www.lowyat.net/2025/345370/tng-ewallet-visa-card-tapsecure/

@mattotcha people should get rod of there #MasterCard or #Visacard. It’s american and not save. If #trump or #musk demand they Will deliver. #BoycotUSA

@mattotcha people should get rod of there #MasterCard or #Visacard. It’s american and not save. If #trump or #musk demand they Will deliver. #BoycotUSA

"FAQ: Kartenzahlung an der Ladenkasse"
https://www.heise.de/ratgeber/FAQ-Kartenzahlung-an-der-Ladenkasse-10228636.html

#Kartenzahlung #Kartendiebstahl #FAQ #Girocard #MasterCard #VisaCard #GooglePay #ApplePay #Wallet #KUNO #BezahlApp #Root #Heise

Ok. Chronologische Abfolge:
Die "original" #MasterCard der #Sparkasse arbeitet nicht mit #GoogleWallet. Weil iss nich. Und man hat ja die eigene App. Die läuft zwar nicht auf wearOS aber "das ist nicht unsere Schuld". Wessen sonst?!? #watzefack?!?

Ein Glück: es gibt eine #Visacard von der #INGDiba aber plötzlich ist die nicht mehr kostenlos. SURPRISE!

Ein Glück: es gibt eine VC von #TradeRepublic die langfristig kostenlos ist. Schnell was draufladen... Und schon meldet sich die Sparkasse ...

Crypto.com Adds Paypal as Payment Option in US for Crypto Purchases - Crypto trading platform Crypto.com has integrated Paypal as a payment method for U... - https://news.bitcoin.com/crypto-com-adds-paypal-as-payment-option-in-us-for-crypto-purchases/ #mainstreamadoption #crypto.comwallet. #digitalcurrencies #cryptopurchases #cryptocurrency #digitalpayment #paymentmethod #blockchain #crypto.com #exchanges #u.s.users #visacard #crypto #paypal

Crypto.com Adds Paypal as Payment Option in US for Crypto Purchases - Crypto trading platform Crypto.com has integrated Paypal as a payment method for U... - https://news.bitcoin.com/crypto-com-adds-paypal-as-payment-option-in-us-for-crypto-purchases/ #mainstreamadoption #crypto.comwallet. #digitalcurrencies #cryptopurchases #cryptocurrency #digitalpayment #paymentmethod #blockchain #crypto.com #exchanges #u.s.users #visacard #crypto #paypal

Tangem Partners With Visa to Launch Self-Custodial Crypto Payment Card - Hardware wallet firm Tangem AG is collaborating with Visa to launch a self-custodi... - https://news.bitcoin.com/tangem-partners-with-visa-to-launch-self-custodial-crypto-payment-card/ #cryptocurrency #hardwarewallet #newsbytes-2 #paymentcard #walletcard #newsbytes #visacard #crypto #tangem #visa

Tangem Partners With Visa to Launch Self-Custodial Crypto Payment Card - Hardware wallet firm Tangem AG is collaborating with Visa to launch a self-custodi... - https://news.bitcoin.com/tangem-partners-with-visa-to-launch-self-custodial-crypto-payment-card/ #cryptocurrency #hardwarewallet #newsbytes-2 #paymentcard #walletcard #newsbytes #visacard #crypto #tangem #visa

#Verpasstodon

FAQ: Debitkarte von Visa und Mastercard statt EC-Karte

Debitkarten sollen die deutsche Girocard ersetzen. Während das Maestro-System von Mastercard verschwindet, soll die EC-Karte bleiben. Steigen Sie da noch durch?

https://www.heise.de/ratgeber/FAQ-Debitkarte-von-Visa-und-Mastercard-statt-EC-Karte-7535789.html?wt_mc=sm.red.ho.mastodon.mastodon.md_beitraege.md_beitraege

#Digitalisierung #ECKarte(Girocard) #Kreditkarten #Leserbriefe&Leseranfragen #MaestroKarten #Visacard #elektronischerZahlungsverkehr

#Verpasstodon

FAQ: Debitkarte von Visa und Mastercard statt EC-Karte

Debitkarten sollen die deutsche Girocard ersetzen. Während das Maestro-System von Mastercard verschwindet, soll die EC-Karte bleiben. Steigen Sie da noch durch?

https://www.heise.de/ratgeber/FAQ-Debitkarte-von-Visa-und-Mastercard-statt-EC-Karte-7535789.html?wt_mc=sm.red.ho.mastodon.mastodon.md_beitraege.md_beitraege

#Digitalisierung #ECKarte(Girocard) #Kreditkarten #Leserbriefe&Leseranfragen #MaestroKarten #Visacard #elektronischerZahlungsverkehr

Visa Announces Proposal to Enable Programmable Payments for Ethereum Accounts - Visa announced a proposal to allow Ethereum accounts to initiate program... - https://dailycoin.com/visa-proposes-enable-programmable-payments-for-ethereum-accounts/ #zzzeditorspicks #zz_popular #zzznative #ethereum #zz_index #jpmorgan #visacard #zz_top #visa

Visa Announces Proposal to Enable Programmable Payments for Ethereum Accounts - Visa announced a proposal to allow Ethereum accounts to initiate program... - https://dailycoin.com/visa-proposes-enable-programmable-payments-for-ethereum-accounts/ #zzzeditorspicks #zz_popular #zzznative #ethereum #zz_index #jpmorgan #visacard #zz_top #visa