The draft Law on Public Finances, in addition of promoting the use of electronic money, is also committed to encourage the use of credit cards and debit cards. For this, a return of 1 point of the Value Added Tax (VAT) on purchases by credit card is offeref. the Remittance Tax for purchases made abroad (up to $ 5,000 in one year), with credit card, will also be eliminated.
However, according to experts, promoting the use of plastic money or credit or debit cards must be accompanied with a financial education for consumers.
In Ecuador, citizens who use credit cards and debit cards have doubts when using them. They think that credit limit is an extension of their income, considers Berta Romero, personal finance expert of Your Finances Program. She explains that in the case of the bill, it would be better that consumers consider making current consumption, that are within their budget. Both the debit card as debit card can be used simply as a means of payment, so that there are no problems of over-indebtedness.