CITIBANK has launched the first online credit card application and approval program in the Philippines in a demonstration of its confidence in the growth prospects of the credit card business in the Philippines.
David Stoughton, Citibank director for credit payment products and global consumer group, noted in a briefing in Makati City on Thursday that more than 80 percent of transactions in the country are still done in cash or check “so there are a lot of opportunities for growth and the outlook for the credit card business in the Philippines is very good.”
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