Visa (NYSE: V), a global leader in digital payments, is collaborating with the Credit Card Association of the Philippines (CCAP) to enhance financial education in the country. Visa will provide modules from its Practical Money Skills global digital platform for use in CCAP’s training sessions, aiming to empower Filipinos to make informed financial decisions. Visa’s educational resources aim to help Filipino cardholders in the Philippines, thereby enhancing financial literacy and inclusion in the country.
The Partnership Agreement was signed on February 6, 2025, with key Visa executives in attendance, including Jeffrey Navarro, Country Manager of Visa Philippines; Rolando Ebreo, CCAP Chairman; Geraldine Liggayu, CCAP President; and Alex Ilagan, CCAP Executive Director, along with other representatives from CCAP.
“We are excited to collaborate with CCAP. Providing financial education in the Philippines is crucial for making digital payments accessible and empowering Filipinos. At Visa, we are committed to driving digital and financial inclusion. By offering our education modules, we aim to reach a broader audience and equip individuals with essential skills for the digital economy,” said Jeffrey Navarro, Country Manager, Visa Philippines.
Increasing digital and financial literacy among Filipinos encourages the adoption of cashless payments, offering a more seamless, secure, and convenient option. According to Visa’s latest Consumer Payment Attitudes Study, cash usage in the Philippines has declined to 87%, down from 96% in 2022. In 2023, 83% of Filipinos attempted to go cashless, with 43% carrying less cash than the previous year. This trend supports the broader goal of building a robust digital economy in the Philippines.
“CCAP is dedicated to promoting financial literacy and empowering consumers to make sound financial decisions. This partnership with Visa allows us to leverage their expertise to reach more Filipinos and help them navigate the digital landscape. This initiative also aligns with CCAP’s collaborative efforts with the Bangko Sentral ng Pilipinas to promote responsible credit card use and financial literacy among Filipinos. Together, we are building a more inclusive and digitally-savvy Philippines,” said Alex G. Ilagan, Executive Director, CCAP.
