Study Shows Huge Credit Card Business Opening in PH

Only 2.5 million of the Philippines' 100 million people have credit cards, yet 71 million Filipinos have already bought airlines ticket, groceries and gadgets online, reports the Manila Bulletin. Moreover, the country's pre-paid "cardable" opportunity totaled $44 billion last year, according to global payments technology firm Visa. The bulk of the spendingt, or 38 percent, is in the general purpose sector, followed by 28 percent in overseas remittances, 12 percent in payroll, 7 percent in government, 4 percent in travel and 3 per cent in corporate.