Moneymax, CCAP launch credit education initiative

ONLINE FINANCE PLATFORM Moneymax has partnered with the Credit Card Association of the Philippines (CCAP) to launch a credit education initiative aimed at helping Filipinos build and manage credit responsibly.

“Financial literacy is one of the major advocacies of CCAP… We felt that Moneymax is a very reputable and popular platform, especially for young people. They have experience in credit education so we felt it would be an ideal partnership because we could provide resources to them and they can also share the resources with us,” CCAP Executive Director Alex G. Ilagan said in a media briefing on Tuesday.

The initiative will feature structured guides, interactive online content, and a series of webinars delivered across Moneymax’s digital platforms and partner channels.

Moneymax and CCAP will also promote responsible participation in the formal credit system by encouraging the use of regulated financial products and consistent repayment practices.

“This partnership is all about helping Filipinos to improve their credit awareness. It is purely focused on credit literacy, understanding what the responsible credit behavior looks like, and how that impacts your approvals, how much interest you get charged, what’s your credit limit,” MoneyHero Group Chief Commercial Officer Shravan Thakur said.

The partnership also aims to address the gap between the availability of financial products versus financial mobility, with most lacking the formal credit ratings needed to access traditional bank loans and essential financial tools. — Aaron Michael C. Sy