A credit card is a payment card issued to customers to support the card holder to pay a merchant for goods and services based on the cardholder’s promise to the card issuer to pay them for the amounts so paid plus the other agreed charges. Unfortunately, several of late, bank customers are facing hurdles in paying their bills on cards. Due to the usual situation, State Bank of Pakistan (SBP) has instructed to all commercial banks to resolve these issues in their systems.
SBP took notice of the service issues of various banks which are not accepting credit-card bills other than those of the issuing bank through different Delivery Channels (ADCs) including internet banking, mobile banking, ATMs and Branchless Banking / Retail agents; especially from the customers of commercial and microfinance banks.
In this context, banks are advised to confirm that all credit card customers are provided with an option to pay their credit card bills utilizing Bill Payment Services (BPS), enabling credit card consumers to pay their credit card bills through ADCs (Internet banking, Mobile banking, ATMs etc.), branchless banking agents and on the branch counters of any bank/MFBs.
Banks/MFBs are advised to align their systems with the necessary changes by March 31, 2019. All Credit Card issuing banks should submit their project plans to PSD latest by November 30, 2018. Banks/MFBs are advised to confirm careful compliance of the above instructions within the specified time, failing which will attract penal action under relevant laws.