2.5M Dominicans have a credit card, a 12% jump over 2012
Santo Domingo.- Dominicans are increasingly warming up to credit cards rising to 2.5 million last year (250,000 more than in 2012), a 12% jump.
The Dominican Republic Commercial Banks Association (ABA) said credit card consumption totalled RD$144.1 billion, an 10% jump compared with 2012, “a behavior which reflects the increasing level of preference for plastic money in commercial transactions because the facilities conferred and security for consumers, avoiding the risk of transporting money in cash.”
ABA revealed that credit card financing was RD$21.5 billion, a 15% jump compared with 2012 and noted that it represents only 15% of consumption.
It adds that credit card interest rates have been the lowest in the last three years.
Category: DR News |