Visa and CCAP Collaborate to Enhance Financial Literacy Among Filipinos

 Visa,  a global leader in digital payments, has signed a memorandum of understanding with the Philippine Postal Corporation (PHLPost) aimed at expanding access to financial services for Filipinos, particularly those in underserved sectors such as rural communities. 

Under the agreement, Visa will utilize its innovation in digital payments as well as its global payments network to explore opportunities with PHLPost in modernizing and expanding the reach of its financial services, which include handling remittances and money orders for overseas Filipino workers (OFWs) as well as disbursement of healthcare subsidies, social welfare payments, and disaster relief.  

From Left: Atty. Benjie Yotoko, Assistant Postmaster General for Operations, PHLPost; Luis Carlos, Postmaster General, PHLPost; Jeffrey Navarro, Country Manager, Visa Philippines; Bella Lai, Regional Head for Southeast Asia, Visa Government Solutions, Visa

Visa and PHLPost will also explore opportunities to enhance business and financial literacy for Micro, Small, and Medium Enterprises (MSMEs), as well as share best practices in making financial transactions more seamless, secure, and accessible. 

The PHLPost remains committed to providing essential postal and financial services to Filipinos, especially those in remote and or Filipinos abroad. Through this collaboration with Visa, PHLPost aims to enhance its financial offerings by integrating digital payment solutions, improving transaction efficiency, and ensuring greater security for its customers through good governance. By modernizing its services, PHLPost seeks to bridge the financial gap for communities that rely on its extensive network across the country.

Visa and CIMB Bank Philippines Forge Exclusive Deal for SME Debit Cards

 Visa , a global leader in digital payments, and CIMB Bank Philippines, the most-awarded digital-only commercial bank in the country and The Asian Banker’s Best Digital Bank in the Philippines for 2025, have announced an exclusive partnership aimed at enhancing financial solutions for Small and Medium Enterprises (SMEs) in the Philippines. The signing ceremony, attended by senior officials from both Visa and CIMB Bank Philippines, marks a significant milestone in the ongoing collaboration that began in 2023.

 

From Left: Suraj Ramchandani, Chief Growth Officer, CIMB; Ankur Sehgal, Chief Business and Strategy Officer, CIMB; Vijay Manoharan, CEO, CIMB; Jeffrey Navarro, Country Manager, Visa Philippines; IsidoreBada, Head of Clients, Visa Philippines; Oliver Ornido, Director and Account Executive, Visa Philippines.

 

This strategic collaboration builds on the strong foundation established in 2023, when Visa and CIMB Bank Philippines first joined forces to provide innovative and accessible financial solutions to Filipinos. The new agreement will integrate Visa's world-class technology and extensive global network in digital payments with CIMB Bank Philippines’ cutting-edge digital offerings to deliver a superior banking experience to the underserved SME market.

To complement an upcoming business deposit product from CIMB, a new Visa Business Debit Card will also be offered by Q3 2025. The card will be linked to the high interest business savings account, where business owners can enjoy zero fees, free fund transfers, insurance product offers, as well as a revolving credit facility that they can maximize to grow their business. These new offerings cater specifically to micro and small enterprises, which make up majority of the SME market, with the potential to expand to larger enterprises later on.  

In the Philippines, SMEs are often regarded as the "backbone" of the economy, constituting 99.6% of the economy in the country. This means they create a substantial amount of employment and contribute significantly to the country's GDP. By providing jobs and income to a large segment of the population, SMEs drive economic growth and development. Recognizing their strategic importance, this partnership aims to support the financial needs of SMEs and enhance their growth prospects.

Through this collaboration, Visa will provide CIMB customers with exclusive discounts and privileges at select Visa merchants, adding more value to the CIMB Visa Business Debit Card. This alliance aims to deliver seamless, secure, and innovative payment solutions for SMEs, making it easier for them to access the financial services essential for their operations and growth.

"This milestone marks an important step towards our shared vision of providing accessible and innovative financial solutions to consumers and businesses, thereby boosting financial inclusion for Filipinos everywhere. Building on our successful partnership with CIMB Bank Philippines, there is a tremendous opportunity to enhance the digital capabilities of SMEs in the Philippines. Additionally, SMEs have unique and personalized needs that require bespoke solutions. By utilizing Visa’s global network and expertise, and CIMB’s digital leadership, we are committed to seizing this opportunity to serve the unique needs of SMEs and provide tailored solutions to facilitate their growth and success,” said Jeffrey Navarro, Country Manager for Visa Philippines.

"As a pioneer in digital-only banking in the country, CIMB Bank Philippines has disrupted the retail banking space for the better with our partnership-led model, earning the trust of 9 million customers and counting. We are now dedicated to also empowering SMEs who are looking for better ways to bank, all while we continue to drive digital and financial inclusion," said Vijay Manoharan, CIMB Bank Philippines CEO. "Our partnership with Visa is part of our maiden foray into the SME segment and helps enable us to offer enhanced payment solutions that are secure, convenient, and specifically designed to support the growth and financial health of SMEs. This collaboration aligns with our commitment to empower SMEs and contribute to the Bangko Sentral ng Pilipinas’ Digital Payments Transformation Roadmap, which targets to make 50 percent of total retail transaction volumes digital."

Visa and Valentine’s Day: Analyzing Consumer Spending Trends for the Season of Love

 Visa, a global leader in digital payments, has released new insights into consumer behavior during February 2024. Visa Consulting & Analytics found that more active cards were used for transactions, indicating a change in how Filipinos are celebrating Valentine's Day.

The data shows an overall increase in transactions for February 2024 compared to February 2023, driven by more active card users. Despite the rise in transactions, the average amount spent per transaction slightly declined. This suggests that inflation and higher commodity prices may have led consumers to be more cautious with their spending this Valentine's month.

Unlike Valentine's Day 2023, which saw a peak in transactions on the day itself, the peak in 2024 occurred on the weekends before and after Valentine's Day. This change points to evolving consumer preferences. The report also highlights changes in spending patterns. Spending on food-related categories decreased, while spending on travel-related categories saw a slight rise. There was a significant increase in spending on local transport services. Spending on gifts, such as books, shoes, sporting goods, and jewelry, saw significant growth. Spending on flowers decreased slightly, indicating a preference for more durable gifts. Spending on health and beauty spas remained steady.

Consumers Are Spending Smarter: Likely to Prioritize Value and Affordability this Valentine’s

Visa’s latest Green Shoots Radar Survey reveals that many Filipinos are adopting a more budget-conscious approach this year. Instead of splurging on luxury items, they are focusing on experiences that create lasting memories. Across the Asia-Pacific region, many consumers are cutting back on non-essential spending, channeling their budgets into special moments with loved ones.

Shifting Towards Sentimentality: The Growing Demand for Personalized and Meaningful Gestures

With excessive spending taking a backseat, personalized and meaningful gestures are becoming more popular. Custom gifts, handmade creations, and intimate dinners are the go-to choices this season, reflecting deeper emotional connections. According to the survey, arts and crafts purchases are on the rise, with more Filipinos shopping in this category compared to last year. These creative purchases, whether it’s a hand-painted card or a DIY gift, show the effort put into expressing love authentically.

Managing Budgets with Rewards and Discounts for Celebrations

How are Filipinos making it all work on a budget? By leveraging rewards and discounts. Visa’s survey shows that many Filipinos are tapping into promotional deals through their credit cards. By taking advantage of cashback, loyalty points, and exclusive discounts, they’re able to treat their special someone to a memorable Valentine’s experience without the financial strain.

"With Visa, couples can unlock added value with every purchase, from thoughtful gifts to special meals, making it easier to celebrate love while staying within their budget. It’s all about offering more ways to make the most of your budget, so you can focus on creating memorable moments with those you love,” said Jeffrey Navarro, Country Manager, Visa Philippines. 

How Visa Advisory Services Unveils Gen Z's Influence on Payments and Commerce

 Gen Z, now in their 20s and 30s, is beginning to drive changes in work, business, and relationships, according to research from Visa, a global leader in digital payments.  As these young professionals aged 16 to 30pursue financial independence, they are redefining youth financial management and embracing a dynamic, holistic approach to thrive in a rapidly evolving world. 

Visa’s latest Green Shoots Radar survey found that Gen Z respondents surveyed in Asia Pacific tend to save their income, setting aside about 30% of what they earn. Increased awareness of financial goals (47%) drives these young individuals in the region to further build their savings, with about half committed to practicing better financial management (47%). As a generation shaped by diverse experiences and perspectives, this group places significant value on cultivating a stronger mental and emotional approach toward financial management (36%).

“Gen Z is a generation that values flexibility and innovation, leveraging digital tools to navigate an increasingly dynamic financial landscape,” said Jeffrey Navarro, Country Manager for Visa Philippines. “At Visa, we are committed to empowering Gen Z with secure, accessible, and innovative payment solutions that align with their needs and aspirations. Through our advanced technologies and educational initiatives, we aim to support their journey toward financial independence and long-term success.” 

Emphasizing Payments in Financial Journeys

For Gen Z, financial success is not about following a single path but finding a strategy that aligns with their individual aspirations and lifestyles. As a generation that values adaptability and independence, they seek flexibility in their financial journey, balancing enjoying the present and securing their future.

To manage the rising costs of living, over half of Gen Z in APAC (57%) reduce spending and cut back on non-essential expenses. Additionally, 36% of this age group in the region value the importance of creating and following a strict budget as part of maintaining financial stability. 

While Gen Z prioritizes saving, they also embrace opportunities to indulge in meaningful purchases, with 91% in the region willing to spend on big-ticket items. Topping their list is travel and vacations (53%), followed by electronics, computers, and mobile devices (49%).

Supporting a Digital-First Lifestyle with Visa

As digital natives, Gen Z relies on technology for everything from shopping to banking. Visa’s Green Shoots Radar survey highlights that 60% of Gen Z in APAC already own a credit card, underscoring their adoption of cashless transactions. Payment systems tailored to a digital-first lifestyle, including mobile wallets, contactless options, and integrated financial apps, provide ease and accessibility, enabling financial independence to become a tangible goal.

Visa’s commitment to innovation ensures that Gen Z can transact confidently and securely. By integrating advanced technologies such as tokenization and fraud prevention, Visa provides a seamless and safe payment experience for this tech-savvy generation. Features such as Click to Pay and Tap to Pay by Visa also support Gen Z in fulfilling their financial priorities and pursuing their lifestyle aspirations with ease and seamless accessibility. By combining intuitive security with the convenience of a simple click or tap, Visa ensures that transactions are not only convenient but also secure.

Visa’s Value-Added Services Empowering Businesses

Visa’s Value-Added Services (VAS), such as Acceptance Solutions, Issuing Solutions, Visa Protect, and Advisory Services, empower businesses to innovate, grow, and build trust in a fast-paced digital environment. By leveraging insights from Visa's Advisory Services on Gen Z behavior in the Philippines, businesses can better engage their target audiences, improving customer acquisition, engagement, and retention.

Understanding Gen Z's Impact on Payments and Commerce

As Gen Z continues to navigate an increasingly digital world, their financial habits and preferences will shape the future of payments and commerce. For businesses, understanding this generation's focus on practicality, flexibility, and meaningful choices is essential. Leveraging targeted insights, such as those provided by Visa’s Advisory Services, can help businesses craft experiences that align with Gen Z’s expectations in a digital-first world.

Gen Z’s adaptable, purpose-driven approach balances immediate needs with long-term goals, leveraging technology to manage expenses and drive growth. Their influence shapes a future of progress and innovation. Visa, through its solutions, empowers businesses to navigate these shifts and create meaningful experiences that resonate with this influential generation. 

Exploring How Filipinos Travel, Shop, and Pay During the Festive Season"

Its  the holiday season—at least for Filipinos—and with it comes a surge in holiday shopping, travel, get-togethers, and festive activities. With the season being a peak time for getaways, Filipinos prioritize experience-driven travel, with Singapore, Hong Kong, and Japan being top destinations. Visa’s latest Green Shoots Radar survey reveals a significant shift in how Filipinos plan and pay for their travels, showing a growing preference for contactless payments alongside the continued use of cash.

Travelling for new experiences, shopping

For Filipino travelers, the holiday season is an opportunity to explore new experiences and create lasting memories as travel peaks in December, with 32% of surveyed respondents planning domestic trips and 23% choosing international destinations.

The survey found that most Filipinos travel to relax (80%) and seek new experiences (43%). While sightseeing remains the top activity (82%), experiencing local cuisine and dining (67%) and shopping (67%) are also key priorities. This shows that Filipinos are looking for destinations that offer a blend of leisure, entertainment, and adventure.

 

Singapore, a long-time favorite, emerged as the top destination for Filipino travelers over the past 12 months, with 38% of respondents visiting the city-state. Singapore continues to draw Filipino tourists with its vibrant blend of urban attractions and rich cultural experiences. Its close proximity to the Philippines, ease of access, and wide range of activities makes it an ideal choice, especially during the holiday season.

Hong Kong remains a favorite at 31%, particularly for travelers who enjoy combining shopping with festive celebrations. Its expansive retail scene and diverse culinary offerings make it appealing to Filipino families seeking both luxury and bargain shopping experiences.

 

Japan, known for its picturesque landscapes, festive markets and shopping districts alongside its deep cultural heritage, is another popular destination, with 30% of Filipinos visiting to experience the Land of the Rising Sun.

 

As Filipinos head overseas, many are also drawn to the Philippines as a tourist destination. Inbound travel to the Philippines is also on the rise, with the country welcoming 3.66 million international visitors from January to August 2024—a 10.14% increase from the same period last year, according to the Department of Tourism. Additionally, data from the World Travel and Tourism Council’s 2024 Economic Impact Research (EIR) forecasts that international and domestic tourism spending will reach P715.6 billion and P3.7 trillion, respectively, surpassing 2019 figures by 5.7% and 1.8%.

 

Jeff Navarro, Country Manager for Visa Philippines, said: “At Visa, we are committed to ensuring a seamless, secure, and convenient experience for Filipino travelers heading abroad and for inbound visitors to the Philippines. We recognize that tourism plays a vital role in the economy, contributing to job creation and overall growth. We’re working to support the Filipino government's efforts to enhance tourism by improving digital payment methods and providing tourists with an enjoyable experience, which will help to further drive economic development and strengthen the tourism industry.”

 

Visa helps drive the growth of tourism in the Philippines by leveraging its global network and collaborating with local markets to promote the acceptance of Visa cards, creating a more enjoyable payments experience for tourists. In the Philippines, Visa supports small and medium-sized businesses (SMBs) by providing tools and knowledge for cashless transactions such as the SME Online Toolkit. Post-COVID, Visa launched the POSM Visibility Initiative to enhance marketing materials in tourist hotspots. Additionally, Visa partnered with the Pacific Asia Travel Association to conduct finance and digital skills workshops for tourism SMEs and Department of Tourism officials, benefiting 120 participants across Southeast Asia including Laguna in the Philippines. 

 

Shift in Payment Preferences: Contactless and Cash

A key trend emerging in Filipino travel habits is the shift toward contactless payments. In a survey commissioned by Visa done by YouGov in Aug 2024 reveals that 66% of Filipino travelers now prefer using contactless methods like mobile wallets and tap-to-pay cards, while 67% said they will likely get cards with contactless features.

 

"As cross-border travel continues to grow, Visa sees a tremendous opportunity to remain a key part of the traveler’s journey. The convenience and security of digital payment options give travelers greater confidence when making transactions abroad—whether they are booking accommodation, dining, or shopping. Our goal is to continue supporting travelers at every stage, from planning and booking to the entirety of their trip, by encouraging the use of Visa for a seamless, secure, and hassle-free payment experience," Navarro added.

 

Despite the rise in contactless payments, 71% of holiday travelers still carry cash as a backup, particularly in areas where digital payment infrastructure may not be as widely available. The continued use of cash illustrates that there is some way to go towards full contactless payments,  especially for holiday destinations that have not fully shifted to cashless payments.

 

As the holiday season approaches, the preference for more experience-driven travel, combined with evolving payment methods, reflects the changing dynamics of how Filipinos shop, pay, and explore the world. Whether through cash or contactless payments, the essence of Filipino travel remains centered around creating memories and sharing moments with loved ones—values that are as enduring as the destinations themselves.

 

Visa Boosts Consumer Options with E-Wallet Partnerships Across the Philippines and Southeast Asia

 Visa, a global leader in digital payments, is actively supporting Southeast Asia's journey into becoming a cashless society. As mobile wallet usage grows in the region, Visa enhances consumer options by enabling cardholders to use their cards directly with merchants or e-wallets such as Maya and GrabPay in the Philippines.

 

Jeff Navarro, Visa Country Manager for the Philippines, said: “Visa’s research found that in the Philippines, 87% of surveyed respondents have used their mobile wallets in the last 12 months. Our partnerships with e-wallets in the Philippines enable Visa cardholders to cash in their wallets using their cards issued in the Philippines, which is in alignment with the growing preference for cashless transactions in the Philippines. These partnerships provide consumers with more choices and support small businesses by enhancing their ability to accept payments, keeping pace with the expanding use of digital payment methods like cards and mobile wallets. At Visa, we're committed to broadening access to diverse digital payment options that are seamless and secure, to promote financial and digital inclusion."

 

In the Philippines, Visa cardholders can cash in their Maya wallets for free as part of the “Cash-In for Free” program, effective starting May 1, 2024. This offer is available during the promotional period to all Maya wallet users with a mobile number from any local telco provider who is currently residing in the Philippines.

 

Additionally, GrabPay users can continue to cash into their wallets for free with their Visa debit, credit, or prepaid cards, benefiting consumers and small businesses through the wider acceptance of mobile wallets. GrabPay users also have the option to set up automatic reloads, which replenish their wallet balances once they drop below a specific amount, creating a seamless payment experience.

 

Coexistence of cards and digital wallets, a rising trend in SEA

Across the region, Visa has likewise forged partnerships with Vietnam’s MoMo, VNPAY, and ZaloPay, alongside Indonesia’s DANA to provide Southeast Asia with seamless digital wallet funding options as Visa’s latest Consumer Payment Attitudes study shows that more than a quarter of cash-ins to e-wallets come from either bank accounts or credit and debit cards. This trend simplifies transactions by eliminating the need for repeated credential entry.

 

Previous Visa research supports this trend revealing that during the first half of 2023, one in three respondents applied for a new card, with 43% motivated by the desire to integrate these cards into mobile wallets, thus highlighting the growing convergence and coexistence of cards and digital wallets.

 

While the majority of payments are made from existing e-wallet balances, Visa's latest Green Shoots Radar survey found that consumers use their cards as a source of mobile wallet funding at 29% for Indonesia, 24% in the Philippines, and 39% of surveyed consumers in Vietnam. Respondents cited convenience, the ability to track expenses, seamlessness, and security as some of the top factors for topping up their wallets using cards. 

 

Poojyata Khattar, Head of Products and Solutions, Southeast Asia, said: “Innovation and strategic alliances are vital to advancing the payments system. Visa is broadening consumer options by partnering with leading e-wallets in the region to allow consumers to use their choice of funding methods, including their Visa cards. By collaborating with Southeast Asian e-wallets, Visa is set to revolutionize payment methods, creating a future for the payments industry focused on convenience, reliability, and security”

 

As Southeast Asia continues to embrace the integration of cards and digital wallets, Visa empowers individuals and businesses by providing access and fostering a more open and inclusive economy.

Visa launches ‘Lukot-lukot, Bilog-bilog’ online with Tanghalang Pilipino

Visa’s musical production Lukot-lukot, Bilog-bilog is now streaming online for free, to promote financial literacy to children and youths while they stay home. The musical can be accessed through Tanghalang PIlipino’s Youtube channel as part of its PangsamanTanghalan initiative that makes stage plays more accessible to Filipinos worldwide during the pandemic. 

Lukot-lukot, Bilog-bilog was launched in 2017, together with partners Tanghalang Pilipino and Teach for the Philippines as part of Visa’s financial literacy program. The musical features teenager, Gwyneth who was given birthday money to pay for entrance exam fees. The play focuses on Gwyneth’s journey in learning money management, with guidance from her grandfather Lolo Sally, best friend Jing-jing, and national heroes who magically come to life.  

“The pandemic has disrupted children’s education, but it has also given them more time to learn life skills such as money management, that are not usually taught in traditional classrooms. By making the skit accessible online, we hope to inspire more children and youths to make smart financial decisions, and help educators teach financial literacy online,” said Dan Wolbert, Visa Country Manager for the Philippines and Guam. 

Since its launch, the musical has already reached over 36,000 students and teachers nationwide. Now on its virtual run, the play will be accessible to more children and educators around the country. 

“Our live performances of Lukot-lukot, Bilog-bilog really showed the power of storytelling in making ideas like money management concepts relatable and memorable to kids,” said Carmela Manuel, Tanghalang Pilipino Company Manager. “In our new virtual stage, we hope online viewers can enjoy learning with Gwyneth and her remarkable mentors.” 

While watching the musical at home, young students can learn about saving, budgeting, and avoiding unnecessary expenses while watching the characters sing and dance to original Filipino music. 

“Now more than ever, we need more digital resources in continuing children’s education. With the musical going online, financial literacy has become more accessible to students and teachers. We are glad to promote it to our networks, and hope that it will be utilized by parents and other educators out there.” said Patricia Feria-Lim, Teach for the Philippines Trustee. 

Stream Lukot-lukot, Bilog-bilog now at bit.ly/TPVISALLBB.