Head of Banking and finaicial sector Central Bank of Srilanka implementation Payment and Settlenemt
System Act No 28 of 2005, this is guide in srilanka Credit card business, now day its ok / altranative
Act wants depend of fraud and also volume of transaction.
" Act No 28 of 2005 implementation more than three or four years that period business system are
limeted but today anyever doing internet based business and also Emoney transaction increases so this
cover all part???
In addition 2009 Cental Bank issues Payment Cards Regulations No.1 of 2009.
Credit Card Marketing System
Credit Card as a new thing so many of Marketing statagies are uses achievement costormers like Free, Discount, Promotion, this offers based on Company and Custormer but some of the guidelines provides.
1.Marketing staff shall disclose their official identity at promotional campaigns before or during the meeting with prospective and/or existing Customer.
2.Benefits, incentives, rewards or reduction of any charges / fees which are offered by the Card Issuers in any promotional campaign or any event with regard to Credit Card operations shall be clearly communicated to the Customers in legible writing (electronically or document form).
3.The terms and conditions relating to the Credit Card shall be clearly communicated to the Customers and the same shall be provided in writing in the preferred language of communication, on request. The terms and conditions shall be displayed in the Card Issuers‟ web sites.
4.Card Issuers shall disclose their Code of Conduct/Institutional Policy on Credit Card operations to the Customers throughout the marketing process and the same shall be published in Card Issuers‟ official websites.
6.Misleading and unethical information/advertisements shall not be conveyed/ published by Card Issuers.
2.7. Card Issuers shall not engage in aggressive and hard selling marketing practices during working/office hours or inconvenient hours for the Customers, except with prior appointments.
8.Regular training and awareness sessions shall be conducted by Card Issuers for their marketing staff covering all aspects of Credit Card operations including charges to be paid by the Customers, safety measures, complaint/dispute resolution mechanisms etc.
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