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The Credit Card Association of the Philippines (CCAP) has partnered with the Bangko Sentral ng Pilipinas (BSP) to enhance consumer awareness on responsible credit card usage and promote credit card literacy. This collaboration marks a significant step in the ongoing efforts to educate Filipinos about the importance of financial responsibility.
The partnership was formalized on August 5 with the signing of a memorandum of agreement at the BSP’s Manila Head Office, coinciding with the launch of the central bank’s Innovative Financial Education Programs. The agreement outlines a joint effort between BSP and CCAP to develop a credit card e-learning course and provide educational resources. These will be accessible to the public through the BSP E-Learning Academy (BELA), an online platform offering courses on personal finance, economics, and central banking. The BSP anticipates that BELA will be fully available to the public by the second quarter of 2025.
Since adopting the tagline ‘Pushing for Responsible Credit’ in 2015, CCAP has been at the forefront of initiatives to improve credit card literacy in the Philippines. The association has consistently engaged the public through various channels, including the distribution of educational materials via print and social media, organizing seminars at major colleges and universities in Metro Manila, and hosting webinars for employees in both the private and public sectors.
CCAP has also been an active participant in events like the Cards and Payments Conference/Expo from 2016 to 2018, organized by Singapore-based event organizer Terrapinn. The association’s executive director regularly appears on public service radio and TV programs to discuss critical credit card issues, such as interest rate caps, pandemic-related grace periods, and fraud prevention.
In a recent initiative, CCAP launched a campaign aimed at simplifying credit card terminologies to ensure that cardholders can easily understand essential information, thereby enabling better financial decision-making. This campaign will be disseminated across CCAP’s social media platforms, including Facebook, Instagram, TikTok, and YouTube, utilizing engaging formats like comics and videos.
“CCAP’s commitment to supporting the BSP’s National Strategy for Financial Inclusion 2022-2028 remains unwavering,” said CCAP Chairman Rolando Ebreo. “These various initiatives are aligned with the BSP’s vision to achieve inclusive growth and financial resilience for Filipinos.”
For the fourth consecutive year, CCAP, which consists of 16 member institutions, has been recognized by the BSP as a recipient of the 2024 Outstanding BSP Stakeholders Award for its exemplary support of the BSP’s mandates and programs.
At the 2024 Outstanding BSP Stakeholders Appreciation Ceremony held on August 2, CCAP officials, including Chairman Rolando Ebreo, President Geraldine Liggayu, and Treasurer Harry Gue, accepted the award on behalf of the association.
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