Why is the credit card system not working in some countries?

[King Belieal]

There are many countries that don't have the credit card system in their economy. The credit card system has been working in some countries for over four decades though.

What are the primary reasons that credit card system is not working in some countries?

 

[Min George]

In my country, there is no formal credit reporting system and without that, the credit card system would not function.

 

[Suba]

As far as I know, credit cards with the MasterCard or Visa logo can be used in any country and at any time, as long as the merchant or store accepts credit card payments, but sometimes the credit card will be blocked if the transaction is too large, and the credit card holder does not notify the credit card company that you will be abroad.

 

[King Belieal]

As far as I know, credit cards with the MasterCard or Visa logo can be used in any country and at any time, as long as the merchant or store accepts credit card payments, but sometimes the credit card will be blocked if the transaction is too large, and the credit card holder does not notify the credit card company that you will be abroad.

How then does someone living in Africa get to apply and get those credit cards issued? That's because there is no institutions that are advertising for such services at all in my country.

 

[Suba]

How then does someone living in Africa get to apply and get those credit cards issued? That's because there is no institutions that are advertising for such services at all in my country.

As far as I know in Nigeria there are many restaurants, hotels etc. that accept credit cards especially for foreigners such as in Port Harcourt, Abuja and Lagos. But I do not know that in Nigeria there are no companies or banks that issue credit cards.

 

[Min George]

We have to develop our credit system and build individuals that are financially responsible to have the credit system work in Africa.

 

[Augusta]

We have to develop our credit system and build individuals that are financially responsible to have the credit system work in Africa.

That right and most importantly we need to build individuals that are financially responsible to have the credit system work