Equitable CardNetwork and JCB Launch EasyPay JCB Card in the Philippines

Thursday 18 November 2004 09:58 CET | News

Equitable CardNetwork (ECN), the Philippines largest credit card company has launched the EasyPay JCB Card, which is specifically designed to appeal to the ordinary worker.

The EasyPay JCB Card has an annual fee only one-third of the average annual fee of other credit cards, and offers a unique installment plan tailored to the ordinary workers salary payment cycle in the Philippines. Salaries are paid every two weeks in the Philippines, and the EasyPay plan allows cardholders to pay for every purchase in four equal payments, twice a month over a period of two months. While other international credit cards in the Philippines have the usual revolving balance payment system, the EasyPay JCB Card is the first international branded card to offer twice-a-month payment. ECN is positioning the EasyPay JCB Card for the mass market as the card for ordinary people with an easy-to-understand, prudent and affordable payment plan. Currently there are approximately 4 million people with credit cards in the Philippines, about 5% of the total population, but most of these are from the top layer of the affluent classes. The Easy Pay JCB Card features are targeted to a much wider market, and ECN anticipates issuing 30,000 of the innovative EasyPay product in the first year. Card marketing will be supported by newspaper, radio and public transit advertising. JCB brand credit card issuing has been accelerating in Asia, with recent new cards including the Sushi Tei JCB Card with a point program for all Sushi Tei Restaurants in Singapore, Hong Kong, Shanghai, Bangkok and Jakarta, the JAA/JCB Card, offering the Japan Asia Airways mileage program, and the AEON/JCB Travel Card with special benefits and privileges for travelers from Hong Kong to Japan. JCB has had a presence in the Philippines since 1983, and has been partners with ECN since 1998 when ECN began JCB merchant operations and JCB credit card issuing.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce