Of late, bank customers are facing hurdles in paying their bills on credit cards. Due to the prevailing situation, State Bank of Pakistan (SBP) has directed banks to resolve these issues in their systems.
The central bank took notice of the service issues of various banks which are not accepting credit card bills other than those of the issuing bank through Alternate 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 ensure that all credit card customers are provided with an option to pay their credit card bills utilizing Bill Payment Services (BPS), enabling credit card users 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 ensure meticulous compliance of the above instructions within the stipulated time, failing which will attract penal action under relevant laws.
