This initiative aligns with broader efforts to increase financial literacy and encourage digital payment adoption in the country, the firm said in a statement.
According to Visa's latest consumer payment attitudes study, cash usage in the Philippines declined to 87 percent in 2023 from 96 percent in 2022.
Additionally, 83 percent of Filipinos attempted to go cashless in 2023, with 43 percent carrying less cash than the previous year. The shift supports the goal of fostering a more robust digital economy.
Through this collaboration, Visa will provide educational materials from its Practical Money Skills global platform for CCAP’s training programs, aiming to equip Filipinos with essential financial knowledge, the company said.
The agreement was signed on Feb. 6, 2025, in the presence of key Visa and CCAP executives, including Jeffrey Navarro, country manager of Visa Philippines; Rolando Ebreo, CCAP chair; Geraldine Liggayu, CCAP president; and Alex Ilagan, CCAP executive director.
“We are excited to collaborate with CCAP. Providing financial education in the Philippines is crucial for making digital payments accessible and empowering Filipinos,” Navarro said. “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.”
CCAP views the partnership as a significant step toward empowering consumers with financial knowledge
“CCAP is dedicated to promoting financial literacy and empowering consumers to make sound financial decisions,” Ilagan said. “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.”
Visa said its collaboration with CCAP reflects its commitment to expanding financial inclusion and supporting the digital transformation of the country’s payment ecosystem.
By equipping Filipinos with financial management skills, the partnership aims to drive responsible spending and improve overall economic participation, the firm explained.
