- Fintech app Lista announced its partnership with MoneyMax, a financial products marketplace that offers car insurance, credit cards, and loans.
- The partnership enabled Lista to launch its new in-app Credit Cards feature, which permits users to view curated card offers, compare cards, and apply for their preferred card in a short digital process.
- Lista also cited a study by TransUnion Philippines that found that the penetration rate for credit cards in the country stood at only 25%.
Set to allow its users to apply for and open credit card accounts, fintech app Lista announced its partnership with MoneyMax, a financial products marketplace that offers car insurance, credit cards, and loans.
The collaboration enabled Lista to launch its new in-app feature, which permits users to view curated card offers, compare cards, and apply for their preferred card in a short digital process.
Lista on Promoting Financial Inclusion Through Credit
In a statement, Lista cited a study by TransUnion Philippines that 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%.
And for fintech app, offering wider access to credit can help foster greater financial inclusion.
“Lista was created to provide Filipinos with purpose-driven solutions for their personal and business finances. Credit plays an important role not only in driving economic growth, but also in helping people purchase goods and services that can change lives for the better.”Khrisztina Lima, Co-founder, Lista
Lista and MoneyMax Partnership
The integration of MoneyMax’s Credit Card application feature on the fintech app is a way to address difficulties in applying for a credit card.
“We are excited to work with MoneyMax to streamline the credit card application process through Lista. Through this partnership, we will utilize technology to bridge the gaps that keep Filipinos from greater financial inclusion – empowering more people to live healthier financial lives.”Khrisztina Lima, Co-founder, Lista
Currently, Lista has more than one million downloads on the Google Play Store. Basically, it allows its users to track their income, expenses, loans, and profits. Like GCash, it is also free to use, with zero to minimal transaction fees on different features.
Recent Fintech News in PH
The first quarter of 2023 report of the Bangko Sentral ng Pilipinas (BSP) indicated that the number of Filipinos who have Basic Deposit Accounts (BDAs) has reached 21.9 million. This amounts to about 19% of the total population in the country.
Meanwhile, in August, Maya and GCash both launched their newest in-app features.
Maya soft launched its mutual fund offering. This feature allows users to invest for as low as ₱50.
GCash has finally launched its GStocks online trading platform. This will allow the e-wallet’s 80 million users to buy and sell shares from companies listed on the Philippine Stock Exchange (PSE), monitor their portfolios, and access a stock watch list and analytics tools.
This article is published on BitPinas: Lista Now Allows Credit Card In-App Application
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