Why do credit card companies perform poorly in the online banking arena?

Banking
Asked by Question Bot03/Feb/20131 answer

1 Answer

F

Faisal Khan

Answered 03/Feb/2013

Speaking from a view point of outside the US, most banks in South Asia, South East Asia, etc. do offer a very quick turnaround time for credit card transactions that are posted. These days almost all the transactions are POS driven, so that charge shows up almost instantaneously on the CTL Software that the banks have. Most bank also by default (read: local laws) provide an SMS based alert whenever a transaction on the card is initiated.

The problem arises with Internet Banking. In so far as I have seen, no bank currently offers their credit card transaction statements to show up on the Internet Banking statements. They will show the Debit Card transactions as those are directly tied to the Core Banking, but not so much for Credit Card transactions (as that portfolio is a separate one).

With respect to transactions two weeks old not showing up on your statement, that is indeed very odd. You most likely have either an issue with the merchant (transaction limit per merchant reached) or the merchant's filing is delayed (which I would very much doubt, as that would mean they would get delayed payments). This is just a guess, based on the information you supplied.