The Bangko Sentral ng Pilipinas (BSP) has partnered with one of the Philippines' largest online communities to promote better financial literacy among Filipinos. Through its digital financial education platform PisoLit, the BSP will collaborate with the online community to create social media content and learning sessions.
The partnership aims to help Filipino consumers manage risks associated with digital payment channels and improve their financial literacy. BSP Deputy Governor Bernadette Romulo-Puyat noted that while digital payment channels have made transactions easier, they also present risks such as impulse purchases, overspending, debt, and scams.
The BSP's partnership with the online community is designed to help Filipinos understand how financial products work, know the features of financial products that fit their needs, and learn how to manage risks through platforms where they are having conversations.
The online community has a large following, with over 580,000 followers on Facebook and some 1.3 million members in its private Facebook group. The community's content includes credit card and travel deals, as well as financial technology-related guides.
The BSP's PisoLit platform delivers advice on financial management and consumer protection, particularly on budgeting, saving, responsible credit use, scam awareness, and cybersecurity. The collaboration supports the BSP's efforts to expand financial education and help more Filipinos make informed, responsible, and confident financial decisions.
