Asia-focused Singapore fintech MoneyHero and the Bank of the Philippine Islands ( BPI ) are collaborating to expand the fintech’s credit card comparison service, enabling more Filipinos to apply for credit card options in the rapidly growing credit card market in the Philippines.

The collaboration with the bank will enable consumers in the Philippines to compare and apply for a wider range of credit card options.

Currently, the fintech allows consumers to compare more than 20 credit card options offered by leading banks, alongside a variety of other financial products, including insurance and loans, available in the Philippines.  

The Philippines has emerged as a strong growth driver for the fintech, it notes, accounting for 17% of total revenue in the first nine months of 2024. In Q3 2024, Philippines revenue surged 49% year-over-year, reaching US$4.0 million, primarily driven by increased demand for credit cards and personal loans.

With the number of active credit cards in the Philippines rising from 9.3 million in Q4 2022 to 11.2 million in Q4 2023, the fintech’s partnership with the bank positions MoneyHero to effectively capture this accelerating demand through enhanced credit card comparison offerings.

“Our partnership with BPI underscores our commitment to empowering Filipinos to make smarter financial choices, especially among younger, digitally-savvy consumers,” says Rohith Murthy, the fintech’s CEO. “This collaboration enhances our capacity to meet growing demand in the booming credit card market, while also supporting our partners in achieving their customer acquisition goals.”