With the goal of improving access to credit, Lista, the fastest-growing financial management app in the Philippines, announced a partnership with the country’s largest personal finance platform, MoneyMax.
The product of this groundbreaking collaboration is the new Credit Cards feature on the Lista app. It gives users the ability to view curated card offers, compare cards, and easily apply for their preferred card in just a matter of clicks.
In today’s economy, credit cards are a convenient way to extend one’s spending capabilities. However, many Filipinos perceive applying for a credit card to be a difficult and stringent affair. Additionally, a recent TransUnion Philippines study on local perceptions towards credit found that despite most Filipinos having a general understanding of credit concepts, the penetration rate for credit cards in the country stood at only 25 percent.
Better access to credit can help foster greater financial inclusion. The integration of seamless credit card application on the Lista app does away with many of the perceived difficulties in applying for a credit card. Having a side-by-side card comparison feature also makes it easier for users to pick the card that best fits their needs.