Know How Fintech CEO Al Cardenas Keeps You 'Safe' from Scams
Manila/ Venture/ Profiles

Elevator Pitch: Al Cardenas, the Visionary CEO of Fintech Startup Safe App

Elevator Pitch Al Cardenas the Visionary CEO of Fintech Startup Safe App

Have you ever fallen victim to an online scam? Perhaps you eagerly purchased a product only to never receive it or received an entirely different item altogether. If you've experienced this, know that you're not alone. Alfrederick “Al” Cardenas, CEO and co-founder of the fintech startup Safe, went through a similar ordeal. However, he used this unfortunate experience as a catalyst to develop a solution for combating shopping scams in the Philippines and Southeast Asia. 

The Beat Asia caught up with Al as he talked about how the Safe app is designed to protect online shoppers from scam transactions and fraudulent buyers and sellers.

Safe marks Al Cardena’s foray into the world of tech startups and his second venture in the fintech sector. The inception of Safe began following the successful sale of his initial fintech startup, Jungle, which significantly improved his financial situation and enabled him to buy a house for his family.

After purchasing their new home, Al and his wife decided to invest in a promising dining set they came across on Facebook Marketplace. The sellers appeared trustworthy, providing numerous photos, arranging same-day delivery through a logistics service, sharing a tracking link, and even sending a video of the dining set being loaded onto a truck. 

They agreed to a 50% down payment, with the remainder to be paid upon delivery. Hours passed, but nothing arrived. It turned out that the booking had been canceled, as the seller used a generic pickup point, making it impossible to track them down. It was perfectly executed, and it was their first bitter taste of being scammed.

Initially, Al didn't rush to address this issue, as he was still enjoying his time as an Ivory Music artist/rapper, sharing stages with Ben&Ben and Brownman Revival. However, as days went by, the thought of solving this problem for millions of Filipinos began to haunt him. Eventually, he made the difficult decision to cancel his recording contract and embark on his next startup journey. Thus, the Safe app was born.

Elevator Pitch: Al Cardenas, the Visionary CEO of Fintech Startup Safe App
Photo by Al Cardenas

How has your initial vision of Safe evolved over time?

Originally, the idea was to provide a simple escrow-as-a-payment service. But our first investors, Founders Launchpad, challenged my concept, which is a common occurrence in the startup world. This pushed me to realize that an escrow service alone wouldn't be enough to tackle product-switching scams and ensure the safety of Filipino consumers' hard-earned money. 

I connected with Armielyn Obinguar on Facebook, and I shared my vision for "Safekeeper." It's an additional layer of security that uses computer vision and machine learning to identify unique product and packaging attributes from what the seller sends and compare them to what the buyer receives. 

Through artificial intelligence, we can detect and prevent product-switching scams before scammers can victimize consumers successfully. "Safekeeper" also helps us streamline our dispute management process, reducing our reliance on human intervention. After she heard the Safekeeper vision and recounted her experience of being scammed when she tried buying books online, she made a tough decision to leave everything behind and join me in building Safe as my co-founder and Chief Technology Officer. From a simple escrow service for eCommerce, Safe quickly transformed into an AI and fintech startup almost overnight.

Fintech is a rapidly evolving industry. How do you stay ahead of the curve and ensure your company remains innovative and competitive?

If you're running a tech startup and aiming to create a truly groundbreaking product, it's crucial to draw inspiration from various aspects of business and everyday life. You should take into account the insights of industry experts while also staying attuned to the trends you observe directly in the field. Simply adhering blindly to expert advice and following existing trends won't lead to groundbreaking innovations. 

If Airbnb had relied solely on industry experts when they were just starting out, I doubt we'd have Airbnb today. An illustrative example of this approach comes from my co-founder and Safe's Chief Brand Officer, Isabelle Daza. She proposed an intriguing idea: If tech startups hire hackers to assess a company's or computer system's security, why not have Safe engage a real-world scammer and reward them if they successfully scam a real-world consumer within Safe's platform? Upon reflection, it makes perfect sense, and that's precisely what we're implementing today. 

These innovative approaches are essential to staying ahead of the competition and ensuring that Safe continues to foster and prioritize a culture of innovation.

Elevator Pitch: Al Cardenas, the Visionary CEO of Fintech Startup Safe App
Photo by Al Cardenas

Can you explain the key features and strategies that Safe employs to protect Filipino online shoppers from scams and fraudulent activities?

There are three primary features provided by Safe to enhance security for buyers, sellers, and couriers in the context of Philippine social commerce:

1. The initial feature is Safe's escrow-as-a-payment service. When making a purchase on platforms such as Facebook, Instagram, Carousell, or in person, Safe's mobile app securely holds the payment on behalf of the buyer. Sellers are then informed that the payment is secure, allowing them to proceed with shipping or meeting the buyer.

Unlike cash-on-delivery (COD) where payment is required before inspecting the order, Safe grants buyers the freedom to open and evaluate their packages. If satisfied, they can finalize the transaction, prompting Safe to release the payment to the seller. In the event of dissatisfaction, buyers can initiate a dispute, with the potential to receive a refund upon winning the dispute.

2. The second protective feature is Safe's AI-driven product and package analysis tool, known as "Safekeeper." Utilizing computer vision and machine learning, Safekeeper identifies distinctive attributes of the product and packaging to be sent by the seller, subsequently comparing it to what the buyer actually receives. 

This advanced technology aids in detecting product-switching scams, ensuring the security of both buyers and sellers. By thoroughly documenting product and packaging details, Safekeeper minimizes the possibility of product substitution by sellers or couriers.

3. Lastly, Safe offers the "Safe Seal" service, a specially designed package seal that is designed to break like an eggshell when tampered with. This seal includes unique serial and QR codes that are specifically assigned to each transaction. Serving as the ultimate safeguard, the Safe Seal acts as a barrier against sellers or couriers attempting to switch products during delivery.

How do you build and maintain trust with your customers in an era of data breaches and cybersecurity threats?

At Safe, we are in the process of establishing our internal cybersecurity team, and we have also initiated a collaborative partnership with a leading cybersecurity firm renowned for its work with the world's largest digital banks and fintech companies. 

Our approach involves the integration of both in-house expertise and third-party cybersecurity specialists to maintain a vigilant stance in safeguarding the sensitive data of our users and partners. 

In addition, we prioritize adherence to pertinent data protection regulations in the Philippines. Our commitment to staying proactive is reflected in our routine security audits and testing procedures, which are designed to prevent any complacency in our cybersecurity efforts.

Collaboration is essential in fintech. How do you choose your strategic partners and foster productive partnerships in such a competitive landscape?

Partnerships and collaborations should be deeply ingrained in the core of your business. Many founders often have a limited perspective of partnerships, viewing them as a simple union of two companies with a shared goal. However, it encompasses more than that. My approach to building and managing my companies begins with the very essence of it all—the founding team.

This initial partnership is the most critical one to carefully cultivate; otherwise, no amount of external collaborations will yield success for you and your company.

I see my role as a CEO as that of a builder-orchestrator. That's my primary function. To make Safe thrive, I need to possess the right insights that enable me to make informed decisions. I recognize that AI is the future, and I understand the necessity of establishing Safe as a trustworthy brand when it comes to handling people's finances.

Elevator Pitch: Al Cardenas, the Visionary CEO of Fintech Startup Safe App
Photo by Al Cardenas

Given these insights, you might think the logical step would be to immediately seek out AI and branding experts, bring them onboard, and call it a day. However, it's not that simple. Understanding human nature is crucial. Everyone has their own aspirations and goals, and you must take these into consideration. You need to prioritize the desires and needs of others as much as your own.

As a CEO, my responsibility extends beyond just finding the right skillset for my founding team. I must also ensure that their personal aspirations, personalities, and work ethics align with the culture we aim to instill at Safe. Failure to do so could lead to the demise of both our founding team and our company.

Once your founding team is in place, the next vital partnership to focus on is with your investors. They are among the first individuals to place their trust in you and your co-founders. They play a pivotal role, offering more than just capital for your startup.

As a startup founder, you may be tempted to accept any available funding, especially given the current state of startup investments. However, this would be a grave mistake. As a startup CEO, it's imperative to ensure that the investors you bring onboard contribute more than just financial resources. We seek their past experiences, unique industry insights, extensive networks, and track record with previous investments.

This doesn't mean we exclusively seek fintech investors just because we are a fintech startup. Quite the opposite. At Safe, we understand the value of connecting different dots from various industries and backgrounds to foster innovation. Therefore, we seek investors with expertise in eCommerce, social media, payments, banking, logistics, and other fields closely related to our goals and aspirations.

Our employees are also considered partners. I apply the same criteria to [selecting] my founding team as I do to early and key employees because they too play a pivotal role in building Safe into a successful company. Finding relevant skills is relatively straightforward, but the real challenge lies in finding individuals with the right mindset, work ethic, and integrity who truly fit the culture we are cultivating at Safe.

To me, when contemplating partnerships and collaborations, it all begins within. Establishing a startup and making it competitive primarily involves internal partnerships and collaborations. Working with external companies comes later, but the foundation must be solid within your organization.

Can you discuss any technological innovations or tools that Safe has developed or implemented to enhance online safety for all stakeholders?

At Safe, we foster a culture of innovation that extends beyond just following the latest trends and exclusively focusing on digital advancements that are on the horizon. 

We also have a retrospective approach where we consider how technologies from the past can effectively address the current and growing issue of online scams in the Philippines. A prime illustration of this is our utilization of Safekeeper and Safe Seal technology. 

Safekeeper represents our AI-driven tool for analyzing products and packages, employing computer vision and machine learning to identify distinctive features on the seller's product and packaging compared to what the buyer receives. This aids us in detecting product-switching scams and streamlines our dispute resolution process. Nevertheless, we acknowledge that this alone may not deter sellers and couriers from attempting to switch products before they reach consumers. That's why we conducted a historical analysis and drew inspiration from some of the most reliable analog solutions in logistics. 

We took cues from the eggshell sticker labels found on SIM card packaging in the country and integrated these ideas into our existing groundbreaking solutions, dubbing it Safe Seal.

Safe Seal is crafted from a special eggshell-like material that breaks upon tampering. It incorporates unique serial and QR codes, along with other distinct identifiers that are exclusively linked to a Safe transaction. This discourages the duplication of Safe Seals and completely eliminates the risk of product-switching scams.

By amalgamating technologies from both the past and present, Safe is empowered to establish a secure eCommerce ecosystem, enhancing the online shopping experience for consumers and optimizing the efficiency of online selling for vendors.

Regarding fundraising efforts, could you outline the specific areas or initiatives where the funds will be allocated to help Safe grow and enhance its protective measures?

The founding team had a clear agreement amongst ourselves: our primary goal is to enhance the value of the company, not necessarily its size. This approach offers numerous advantages. 

Firstly, it allows us to exercise discipline when expanding our team. By maintaining a controlled team size, we can better prioritize essential products, features, and tasks crucial for delivering our core services. This approach promotes creative time and effort management, enhancing cohesion within the company. By deliberately keeping our team relatively small compared to our goals for each stage of the company's growth, we have the capacity to assemble a group of individuals who safeguard the company's culture. 

Moreover, it enables us to maintain a high standard of skills among our hires, as we cannot afford to bring in just anyone who walks through our doors. In this context, the capital raised for Safe's Seed round will be primarily allocated to enhancing our core services and technologies while optimizing our costs to achieve profitability as swiftly as possible. This entails training Safekeeper not only to detect product-switching scams but also to assist in analyzing user identities and the documents they provide. 

This eliminates the need for third-party services for electronic Know Your Customer (eKYC) processes. Additionally, it involves equipping Safekeeper not just with the ability to detect product-switching scams and identify fake identities but also to help authenticate products on a category-by-category basis. 

This expansion of capabilities will enable us to offer extra services to our users, such as product authentication through a smartphone camera. Safe's CTO and co-founder, Armielyn Obinguar, and I are continuously exploring numerous possibilities for Safekeeper's evolution, which fuels our dedication to hard work. Furthermore, we are investing in strengthening our brand equity. 

I deliberately chose the name "Safe" because it conveys a sense of security and peace of mind. Consequently, Safe's co-founder and Chief Brand Officer, Isabelle Daza, and I are collaborating closely to build a brand that resonates with our users and instills trust.

Lastly, we will be dedicating resources to our go-to-market strategies, which will facilitate our growth and expansion, allowing us to reach more merchants and online marketplace platforms interested in securing their digital transactions and establishing a brand with a strong emphasis on security.

What are some of Safe's long-term aims or aspirations for securing the Philippines' digital infrastructure, and how fundraising will play a role in achieving these objectives?

Safe's aim is to establish itself as the primary choice for consumers and businesses across both the local market and Southeast Asia within the next three to five years. Achieving this objective will require a strategic approach and the effective utilization of funding from seasoned investors in the field, recognizing that this transformation will not occur suddenly or without a well-thought-out plan.

Can you share an example of a challenging decision you've had to make as CEO and how you approached it to benefit both your customers and shareholders?

During my five-year tenure as a startup CEO, one of the most formidable choices I faced was related to my initial fintech venture, Jungle. After months of tireless effort, we successfully raised our Pre-Seed funding and obtained a lending license in the Philippines. 

Our mobile app was primed for launch, with several partner merchants on board, and our excitement was palpable. However, our euphoria was short-lived. Just moments after announcing the availability of Jungle's buy now, pay later app for travel and gadget loans, the former Philippine President Rodrigo Duterte declared a stringent COVID-19 lockdown. 

The country's borders were closed, unemployment surged, and the demand for leisure travel and gadget purchases plummeted. Understandably, my co-founder, investors, and I were deeply concerned. Despite the pressure, I possessed the ability to maintain composure and focus during these critical moments. I was determined to find a path to success for Jungle, its customers, and investors. While my co-founder contemplated shifting to a different market, I reasoned that the global nature of the pandemic made such a move impractical. 

Our investors advised patience, but this would mean years of dormancy for Jungle. I asked myself a pivotal question: What do people require during these trying times? The answer was clear—essential supplies and medicine. I then pondered who still had jobs despite the lockdown—frontline workers and call center agents adapting to remote work. 

With these insights, I made the bold decision to press on with Jungle's operations, redirecting our focus from travel and gadgets to the country's first "grocery and medicine now, pay later" service. Three years down the line, Jungle was acquired by one of the world's largest banks for a life-changing sum. As a CEO, you must carefully consider advice and feedback from various well-intentioned sources. However, ultimately, the responsibility lies with you to analyze these inputs and make your own decisions. When you have unwavering confidence in your insights, do not hesitate to forge ahead and execute with determination.

As a leader, what are the core values and principles that guide your decision-making and the company's culture, and how do they contribute to your fintech's success?

I have immense admiration for Steve Jobs, who served as a significant source of inspiration during my early years in business and life. It was his story that instilled in me the belief that I could create my own technology company, even without a formal education. 

One particular quote from Steve Jobs, which deeply resonated with me as a tech startup founder, is: "It doesn't make sense to hire smart people and then tell them what to do. We hire smart people so they can tell us what to do." As a CEO, my primary role is to assemble a team of individuals who surpass me in intelligence and expertise. This is the key to fostering growth. However, a crucial aspect that many startup founders tend to overlook is the importance of providing these brilliant minds with the freedom to excel in their work and share their insights on critical aspects of the company. 

Regrettably, I've observed that many startup founders simply issue directives to their talented hires, adopting a hierarchical approach. If this is the prevailing culture in your startup, it will ultimately limit your company's growth to your own knowledge, experiences, and insights, without room for collaboration or team synergy. 

At Safe, I consistently emphasize to my team that, when making decisions, the best ideas and reasoning should always prevail, regardless of their source. It doesn't matter whether you belong to the marketing department; if your idea regarding a crucial technical decision is more sound than those from the technology team, it should take precedence. This principle fosters a sense of inclusion among our team members and encourages them to voice their ideas. After all, we're all in this together, so why stifle their contributions?

What advice would you offer to aspiring entrepreneurs looking to venture into the fintech startup industry?

If you're an aspiring tech startup founder, whether it's in fintech or another field, my top piece of advice is to adopt the resilience of a cockroach. Cockroaches are known for their tenacity and difficulty in being eradicated, so strive to emulate their persistence. 

Reflecting on my own journey in the startup realm over the past five years, I've realized that my accomplishments have largely stemmed from my ability to endure and remain in the game. The key is to persevere long enough to gain insights that elude others. Your goal should be to outlast your competitors, as many startups falter due to self-inflicted wounds rather than external factors like chance or competition. 

What I'm getting at is that your startup's demise won't typically result from someone else launching a similar product or service. Instead, it's more likely to occur due to your own actions. This could involve mismanaging your funding, making ill-advised decisions, overestimating your capabilities while underestimating your expenses, or failing to maintain cohesion among your co-founders. These are all examples of self-inflicted wounds that can spell the end for a startup.

So, embrace the cockroach mentality by becoming resilient and difficult to extinguish. Achieve this by steering clear of actions that could lead to your startup's self-inflicted demise.

Say goodbye to online scams and read more about Safe here or download the app via Google Play Store. Stay updated on its latest updates by following them on Facebook and Instagram.

Enjoyed this article? Check out our previous Elevator Pitch profiles here.

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Manila/ Venture/ Profiles

How Adelina Eugenio Built a Social Media Following of Over 3.5M

Adelina Eugenio x Beat Asia 1 Photo by Adelina Eugenio

Filipinas across the country have found an accomplice in Adelina Eugenio. Her relatable humor and easy-to-follow makeup routines have become a staple for many in her audience, which – might we add – is currently over 3.5 million strong (and growing!).

“It’s still crazy to think I have over 3 million followers on TikTok!” Adelina exclaimed. “Honestly, TikTok feels like the perfect platform for me – it lets me show [people] the real [me].”

Also known as Deng, Adelina is a content creator who’s recently skyrocketed to fame. She came into the social media scene in 2023, posting “get ready with me (GRWM)" videos on her social media page. Before it became a full-time career, Deng recalled that she would film the same kind of content before heading to her classes at university. “From there, I realized I wanted to share more of my life and ideas with a bigger audience,” she said.

A makeup look by Adelina
A makeup look by Adelina | Instagram/Adelina Eugenio

Since then, the content creator has banked on both authenticity and relatability to build her name and community. “Staying true to myself and embracing my unique humor and personality is what really helped me stand out,” she mused. “People can tell when you're real, and it’s so much easier to connect with them that way.”

Of course, consistency is key too. Posting regularly keeps the momentum going, which Deng admitted is helpful when navigating unpredictable algorithms. Today, she’s active on three platforms: TikTok, Instagram, and Facebook. And while she is her most authentic self on each one, she revealed that different types of content work differently on each one.

TikTok is all about short, catchy, and fun videos that grab attention right away,” she explained. “On Instagram, I get to showcase more polished content – I can share everything from photos, stories, and reels. It’s a more curated space where I focus on aesthetics and storytelling. Facebook, on the other hand, is where I really focus on building a community. I love interacting with my audience there, whether it's replying to messages or joining discussions.”

Yet, out of all these platforms, Deng finds most of her fan base on TikTok. There, she collaborates with fellow creators such as Zoozoo, who she acknowledges as someone she already follows and admires. She's also filmed content with personalities such as Christian Bautista and Lauren Spencer Smith.

But even on her own, it’s obvious that Deng’s humor – often loud and energetic – is a magnet for viewers. Already knowledgeable about the social media scene, Deng shares that gaining followers – and attention – isn't always easy.

The first three seconds are crucial for grabbing attention,” she shares of Tiktok. “So I always think of a catchy opening hook. For example, I might ask my followers to guess what I’m about to unbox, or even start with an excited scream to show how hyped I am for a product.”

These kinds of tips showcase Deng’s mastery of her platform. And while she acknowledges that luck has had a role in her virality, she knows that proper timing and understanding algorithms are even bigger factors when determining who gets to be under the spotlight – or on someone’s screen.

“That’s why I always emphasize the importance of posting regularly; the frequency helps keep your content visible on people’s feeds. But beyond that, hard work and genuine passion are the real foundation,” she stressed.

Follow Adelina on Instagram, Facebook, or TikTok

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Manila/ Venture/ Money

BSP Introduces the Philippines' First Polymer Banknote Series

BSP Introduces the Philippines First Polymer Banknote Series Photo by Facebook/Bangko Sentral ng Pilipinas

Bangko Sentral ng Pilipinas (BSP), the Philippines' central monetary authority, has launched the first Philippine Polymer Banknote Series.

According to BSP, the new, polymer-made banknotes are “smarter, cleaner, and stronger” than the previous version, as they are equipped with “more sophisticated security features, have a smooth and non-absorptive surface, and are more durable than the paper banknotes.”

In a ceremony held in Malacañang on Dec. 19, President Ferdinand Marcos Jr. emphasized that the polymer banknote series can last up to seven and a half years, five times longer than the paper bills.

BSP also switched the design of the polymer bills to focus more on protected wildlife across the archipelago, contrary to the paper banknotes’ national heroes-centered layout. This move, according to the bank, is to “remind Filipinos of their role as responsible stewards of the country’s natural resources.”

The bank, however, also preserved some notable elements from the paper banknotes. Below are design highlights of each polymer banknote denomination:

  • P1,000 - Philippine eagle and sampaguita flower, Tubbataha Reefs Natural Park, South Sea pearl, and the T’nalak weave design
  • P500 - Visayan spotted deer and Acanthephippium mantinianum, Puerto Princesa Subterranean River National Park, blue-naped parrot, and Southern Philippine weave design
  • P100 - Palawan peacock-pheasant and Ceratocentron fesselii, Mayon Volcano, whale shark, and Bicol Region weave design
  • P50 - Visayan leopard cat and Vidal’s lanutan, Taal Lake, native maliputo fish, and Batangas embroidery design

In a separate press conference last Dec. 20, BSP encouraged the public to get to know the polymer banknote series. “The BSP encourages everyone to get to know the new banknote series — including consumers, cash handlers in banks and other financial institutions, retail stores, public transport operators, and other businesses involved in financial transactions,” said BSP Assistant Governor Mary Anne P. Lim.

The bank also clarified that while the new polymer banknotes will be rolled out, the paper banknotes will remain in circulation.

This type of banknote was first introduced in the country in April 2022 with the launch of the P1,000-peso polymer bill.

Explore the Philippines’ first Philippine Polymer Banknote Series via BSP’s website.

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Manila/ Venture/ Money

Credit Card Whiz Jax Reyes on Making Wiser Financial Decisions

Jax Reyes Exclusive

“There’s nothing wrong with being kuripot (stingy).”

This is the mantra of Filipino millennial content creator, Jax Reyes. Known for his helpful guides on credit cards and discounts, Jax had always been keen on all things about personal finance. Even before he left corporate life, he admits that he was always the finance guy at work, often searching for discounts, credit card deals, and ways to earn reward points and sharing them with his co-workers.

Wanting to help others and share all this knowledge with even more people, Jax began uploading content on YouTube during the pandemic and then on TikTok. His tipid hacks,” ranging from shopping to travel, proved to be helpful to millennials and Gen Zs looking to manage their finances while experiencing the better things in life. Today, the content creator boasts over 300,000 followers on TikTok and more than 55,000 subscribers on YouTube.

In 2022, the credit card whiz co-founded the online community “KasKasan Buddies,” where they share some of the latest credit card promos, guides, and tips on how to save money, among other things. Two years since its creation, the community now has over 750,000 members on Facebook.

“[I thought], if I share it, and more people enjoy it, hindi ba mas masaya ang mundo (wouldn’t the world be happier)? For me, it's always about creating that value for other people in whatever way. And the value that I like to create was maximizing your money, maximizing every peso,” Jax told The Beat Manila.

In an exclusive interview, we caught up with Jax to learn about his own financial journey, along with his best tips on how to make the most out of your money.

The Importance of Starting Young

“I got comfortable using credit cards because early on, my dad was able to give me a supplementary credit card. When we were growing up, he taught us how to manage. It was not really for us to spend, but it was really for us to use it for emergencies,” Jax shared.

According to him, having early exposure to how to use credit cards was what ultimately piqued his interest in personal finance. It also made him more conscious about his spending habits, on what perks he could get with it, among other things.

But more than this early training with credit cards, it was really his own experiences that led him to pay more attention to his personal finances. “I was a young adult. I started earning money, so syempre ang dami nating gusto, ‘di ba (of course we wanted a lot of things, right)? So it was really my mistakes as well, growing up,” he confessed.

To this end, Jax emphasized that starting young, especially when it comes to saving and investing, is vital.

“I always say, sa lahat ng mga content ko (on all my content) about investing, [is that] ‘you have to start early.’ One of my biggest regrets was also not starting that early. If I could have saved or invested more, I would have more right now.”

‘Credit Cards Are Not Your Enemy’

Filipinos would often associate credit cards with debt, but for Jax, it’s all about learning how to use them properly.

“That’s also the reason why I wanted to start creating content [about] credit cards. Because I want to demystify na hindi siya masama, pero kailangan din natin siyang gamitin ng tama (that it is not bad, but we need to use it wisely). We have to learn it the right way.”

On how one should assess if they should be getting a credit card, Jax said that there are three key things to consider: your ability to manage your finances, your commitment to pay your credit card bill on time, and your capability to say “no” to temptations.

@jaxreyes_ VISA OR MASTERCARD? What Credit Card should you get? What Credit Card is better? ✅ Klook Activities - https://bit.ly/Jax-Klook ✅ Klook Hotels - https://bit.ly/JaxKlookHotels (Klook Spotlight Hotel Deals) Save money on your next trip! Use my code JAX5OFF for 5% off your next Klook adventure. Available for Hotels, Adventures, Flights, Food, and so much more!! Use JAXHOTEL to get 8% off hotels with Klook Spotlight Hotel Deals! For hotels get 8% off when you use code JAXHOTEL #travelph #travel #visa #mastercard #creditcardph #fintok #learnitontiktok ♬ original sound - Jax Reyes

The credit limit that you have is not the money that you have. It’s something that’s given to you by the bank because they trust you. If you feel na pera mo ‘yan (that that’s your money), that’s where you’ll go down the rabbit hole and mababaon ka sa utang (be knee-deep in debt),” he added.

Jax also had three things to say on how one should choose the right credit card.

“People would always ask me, ‘What’s the best credit card?’ And I would always say, ‘It depends on you.’ It depends on your lifestyle. The first [thing to do] is ask yourself, ‘Where do I usually spend?’ Is it groceries? Is it traveling? Is it shopping? Iba-iba (It varies).”

The next thing to consider, according to Jax, is the perks one would want in a credit card. “Is it the perks of earning points, or earning cashbacks? [Because they’re] two different things,” he explained.

Lastly, the content creator encourages credit card beginners to look into its features. “Some credit cards would have fees, some won’t have fees, but wala masyadong (not a lot of) features.”

“For me, credit cards have different rewards. Some people like point-earning or miles-earning. Some people, on the other hand, want cashback, kasi ayaw na nilang nag-iisip ng (because they don’t want to think about) ‘What can I claim with my points?’ Gusto nila, pera na lang, ibabawas sa bill every month (They just want cashback to be deducted from their bill every month),” he added.

On the ‘Deserve Ko ‘To’ Mentality

We've all had our own “Deserve Ko ‘To (I Deserve This/These)” moments, wanting to reward ourselves for our hard work with our hard-earned money. But sometimes, things can get out of hand, especially for people who don’t know how to control it.

When asked what he thinks about this issue, Jax had some strong opinions, “I’m okay with the ‘Deserve ko ‘to’ mindset — when it’s budgeted. Minsan, nagde-’Deserve ko ‘to’ ka na lang lagi (Often, you say ‘I deserve this’) and you make it a reason na mangutang ka (to borrow money) just to buy this stuff because you just say na ‘Deserve ko ‘to.’”

On how one could deal with this self-conflict, he said, “Ask yourself first: ‘Is it budgeted?’. If nilaanan mo ng pera (you allocated money for it) like funds mo for your wants, for your needs, then you say, ‘Deserve mo ‘to.’ If not, I don’t think deserve mo siya muna ngayon (you deserve it for now).”

Savings & Investment Tips

Aside from credit cards, the content creator also shared some helpful tips on saving up money.

Out of sight, out of mind” is Jax’s ultimate tip when it comes to saving money. According to him, creating a separate bank account for savings alone is one of the most effective ways to set money aside for unexpected expenses.

“There are a lot of digital banks out there. Why not just create a digital bank [account] specifically for your savings only? I always wanted to push digital banks kasi mataas ‘yung mga interest (because their interest rates are high). You have the GSave, Seabank, [and] Maya. When you put it there, iiwan mo siya (then leave it there), at least tumutubo ‘yung pera mo (your money grows).”

He added, “The more you save, the more you can sleep soundly at night. We don’t want to live a life na lagi nating iniisip (where we always think), ‘Oh my God, do I have enough [money] for tomorrow?’”

With many people, especially the uninitiated, getting into investment scams, Jax also has a few pointers on how one could properly choose where to invest.

“There will always be scams out there. If you want to invest, make sure you understand what you’re getting into. Kung hindi mo siya naiintindihan (If you don’t understand it), don’t. If you don’t have the money to invest, don’t risk your daily money just because you want to invest. And of course, go with the legit platforms.”

There are a lot of ways to spend money. But for Jax, there are a lot of ways to make the most out of it, too. And the very first step is looking into yourself and your budget.

“I know that budgeting seems hard, and sometimes annoying to do. But wala eh (there's no way around it), that’s really step one. You really need to know how much [of your] money goes in and how much goes out. Because if you have a really clear picture kung saan mo ginagastos kadalasan ‘yung pera mo (of where you spend your money often), that’s where you can make slow and small adjustments in your life to be more financially sound and stable.”

Want to get more ‘tipid’ tips and credit card hacks from Jax Reyes? Make sure to follow him on TikTok, Instagram, and Facebook, subscribe to his YouTube channel, or join the online community KasKasan Buddies. Kaskas wisely!

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Manila/ Venture/ High-End Fashion

How Andrea Tetangco Uses Social Media to Grow Her Fashion Business

Snapinsta app 311586349 121485470704694 4904953131537325511 n 1080 Photo by Instagram/ Andrea Tetangco

Andrea Tetangco has been in the fashion industry for 17 years now. As such, the fresh-faced designer, has seen the rise and fall of various trends, as well as the advent – and continuous growth – of social media.

Seventeen years ago, we didn’t have social media. Growth was very organic,” she recalls. “We didn’t have that many young designers back then either.”

Today, Andrea has established herself through a namesake atelier that is known for elegant and feminine designs. She makes intricate yet timeless bespoke dresses for brides and event attendees. Through this, she’s had the privilege of dressing some of the most influential women in the country, including actresses and politicians. Yet, she acknowledges there’s a new wave of women today, one that cannot be discounted: the rise of social media influencers.

Marian Rivera in Andrea Tetangco
Marian Rivera in Andrea Tetangco | Instagram | Andrea Tetangco

Crediting content creators as one of the drivers for her new ready-to-wear collection, Andrea says, “We have more influencers now and people see that you can dress up. [The] Majority of people are on social media and they see that it is possible to dress up for things, it is accessible.”

For those curious about Andrea’s ready-to-wear line, it is available at her boutique office in Kirov Tower, at Proscenium Rockwell. Here, a wonderland of beauty awaits: from beaded gowns to ruffled skirts, to bow-top dresses, and feathered capes.

Dubbed “luxury ready-to-wear," Andrea’s designs are truly next level. “I love statement details on timeless silhouettes,” she explains.

A statement piece from Andrea Tetangco
A statement piece from Andrea Tetangco | Instagram | Andrea Tetangco

Though established now, Andrea admits that growing up, she had no idea she would end up as a fashion designer.

“I didn’t know what I wanted to do [when I was young],” she says. “But I know what I wanted to become. I wanted to become successful.”

A born leader, Andrea established her design studio after completing her studies. To this day, she’s never worked under anyone but herself. Her powerful statement pieces embody the “girlboss” she is.

I knew I wanted to lead, even at a young age,” she notes.

A bride celebrates in her Andrea Tetangco gown
A bride celebrates in her Andrea Tetangco gown | Instagram | Andrea Tetangco

Of course, the business and fashion landscape was vastly different in 2007, when Andrea first started. As previously mentioned, social media had yet to fully take off. Back then, the designer had had to rely on word of mouth to gain traction.

“No one trusted me [in the beginning] but I couldn’t give up,” she recalls. “If people don’t believe in you, but you believe in yourself, you’ll find that you’ll [be okay]. You have to believe in yourself first before other people will.”

Now, through social media platforms such as Instagram gaining global prevalence, Andrea has found greater success. She dresses women who have the power to share their experiences with friends and followers. In this way, word of mouth is still the best kind of marketing for fashion designers.

Of course, that doesn’t mean that creativity and a good following are all it takes to run a business. As Andrea has come to realize, learning the technical aspects of management is crucial for designers.

“When you study fashion design, sometimes, business education is lacking. Fashion designers can be proud of their designs, but at the end of the day, it’s still a business. If you want to last, you have to learn, because the DNA of it all is your team, your production, and the data.”

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Manila/ Venture/ Profiles

Sheila Fuentes on Fostering a Holistic Approach to Brand Building

Sheila Fuentes of Studio Naghisa Photo by The Beat Asia

When it comes to business, branding is everything. It’s the armor your business wears — the distinct identity of your brand in the minds of your potential consumers. Over the past decade, digitization has become a driving force behind marketing strategies, but with millions of people online going through thousands of posts every single day from several businesses that may have similar intentions or offerings locally and internationally, it’s a challenge to stand out.

Studio Naghisa Founder Sheila Mae Naghisa Fuentes knows this firsthand as her entire business revolves around creating branding strategies for her clients. After being in the banking industry for a little over a decade, Sheila took her corporate hat off and took the entrepreneurial route to help her fellow business owners.

“Since I started a family, I decided to do my own thing. I think life was really pushing me to really go into business. Even back when I was in the corporate, I've been doing business sidelines. I sold fashion and beauty products. I decided to go full-time just last year,” she shared.

Studio Naghisa is a digital marketing agency that offers branding and web design services for female entrepreneurs. When asked about why and how she started the business, Sheila told us how her skills for marketing were something she discovered while working on an entirely different business beforehand.

Sheila Fuentes, founder of Studio Naghisa
Courtesy of Studio Naghisa

“I had a startup — a sustainable fashion e-commerce platform. We're trying to build that since the pandemic, joining different acceleration programs like IdeaSpace, and then pushing that advocacy to move or to create a movement for the fashion industry and sustainability,” she said. “But it didn’t go well during the pandemic and I decided to stop operations. It wasn’t profitable at all, and there were a lot of challenges back then.”

Sheila then saw an opportunity for freelancing and started as an Instagram manager for a local salon. From there, she began building her skills and learning about branding and website design.

“I realized this is what I am good at and is something I want to help businesses with, especially female entrepreneurs who are really into impact-driven businesses, meaning they're not just building the business for the sake of generating sales, but they want to make a change in the world.”

Empowering Women Leaders Through Strategic Branding

From her start as a freelancer in 2020, Sheila explored the space with vigor, absorbing all that she could learn about marketing through firsthand experience as a social media manager. During that time, she realized that she could do so much more and wanted to be known in the branding space, which gave birth to Studio Naghisa in the later part of that same year.

A business with a niche client target, Studio Naghisa caters to female entrepreneurs, coaches, and visionaries. When asked why she chose this particular group, Sheila replied that it stemmed from a personal reason.

“I'm an entrepreneur and also a mom, so I know the struggles of a female entrepreneur or business owner. Building a business is hard, but when you are a mom or a woman who has other responsibilities to their families for example, which is expected in our society, that puts a lot of pressure on them.”

Sheila mentioned how she had been exposed to gender inequality in the workplace from her previous jobs, which opened her eyes to the underlying problem when it comes to working women.

“I’ve also seen in the past years while working with our startup that a lot of women are now starting their businesses, so there's a big opportunity. Women are risk-takers. They start mission-driven businesses, social enterprises, or profit businesses but with underlying impact as well. That's the trend I'm seeing and as a mother and entrepreneur myself, I decided I want to help people like me.”

Studio Naghisa currently offers web design and social media marketing services. Under web design, you can choose among different platforms like Shopify, WordPress, or Kajabi which Sheila and her team can create for your business. The agency also features signature services like “Lush” — a website-intensive package that aims to launch a website that converts browsers into buyers in just seven days, and “The Powerhouse” which is a brand marketing subscription service that intends to empower your brand and allow you to position yourself online as a credible and trusted leader in your respective industries.

Website Design Sample
Courtesy of Studio Naghisa

Sheila also added that for their social media marketing services, they have three tiers. Tier 1 provides a monthly consultation where they can set up a creative direction for the business and make sure their content is on brand. This caters more to startups and is the most budget-friendly option.

Tier 2 is a full-on service, meaning all the things you need for social media content creation will be on them from strategy market research and creating the actual content to publishing it. This also includes a monthly review.

The more diverse of the offerings is Tier 3, which caters to businesses that are already scaling by providing them with full-service social media marketing. This includes organic posting, paid ads, blog content, and more. This Tier aims to build that omnichannel presence for the brand while also helping it stand out and build authority online.

Studio Naghisa Offers
Courtesy of Studio Naghisa

“A lot of the people or entrepreneurs I’ve worked with, their number one challenge is being seen online, marketing, and branding — like how they can position themselves; [how] to stand out online and make them a top choice in their market,” Sheila said. “That's a common problem that I've seen, and I thought digital marketing could really support them in growing their business and brand online because nowadays that is the new direction. E-commerce, online purchases, and a lot of digital transitions.”

Building Trust with Brands and Learning to Delegate

Having a niche business has its own set of advantages and disadvantages but Sheila sees this more as an opportunity to better connect with her clientele.

“Number one is potential clients can relate to you. We share the same problem even if we have different niches, different markets, we know the [same] struggle. So it's easier to relate to them and get their trust or that initial connection.”

As someone who runs an impact-driven business, Sheila finds it easier to understand her client’s visions and in turn makes her clients feel understood and connected to her more. “I think that's one of our superpowers as well, like our secret sauce. I think that [being impact-driven] is an underlying niche. People can also sense how passionate we are, so that's a plus point.”

Sheila also expressed some of the unique challenges she faces in running the business. “First, the challenge of delegation for founders who are ready to scale. At first, it's challenging to think about getting help, especially for women, like we're used to caring for ourselves, and sometimes it's hard to embrace that masculine side of us to just be the boss or delegate things. Until now I'm still learning to let go of some tasks in order to scale, which I know is important.”

Community meet up
Courtesy of Studio Naghisa

Furthermore, she emphasized how there was one thing she hoped entrepreneurs would talk about more openly, which is the subject of learning how to balance work and life.

“One thing that I want to just share and I hope most founders will be open to talk about it is also taking care of yourself. Navigating your personal life could sometimes affect the business and most of the time when we see failed startups, that's one of the factors why some businesses fail to continue their journey.”

Although still a startup, Studio Naghisa has already accomplished its goals with its clients as shown through the rave reviews and business case studies on their website. It was the best part of running her business, she stated, seeing her clients happy and knowing that their sales improved or how their business was able to revamp their online presence with their support. She also emphasized how her agency is more than just marketing or a transactional process, but provides holistic services to help them build a brand from the ground up.

“Know your customers. Really think about their needs, their wants, and their challenges,” she said when asked about the best lesson she has learned through her journey. “Take note of what they're saying, what they want, what improvements that they want to see. What are the unique desires that they have that your brand can also cater to?”

As for her advice to aspiring entrepreneurs, Sheila looked back on the advice she received which she told us still holds true no matter how far you are into your journey of running a business.

Don't limit and stop playing small. Allow yourself to dream big and you will realize how capable you are. From there, you will be able to take bolder actions to make your business bigger. You just got to hold the faith and bet on yourself.”

You can visit Studio Naghisa’s website to learn more about their services, follow them on Facebook, and check out Sheila's Instagram. Sheila also hosts a weekly podcast called, “Her Powerhouse Brand,” where you can tune in for expert insights on strategic brand marketing designed to help you grow a purpose-driven business and scale your impact.

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Manila/ Venture/ Money

What You Need to Know About 13th Month Pay in the Philippines

13th Month Pay Explainer

Year 2025 is just around the corner! But before you welcome a new beginning, why not give yourself a pat on the back for your hard work throughout this year?

But for us employees, what’s better than a pat on the back? Money, of course! Now that the end of the year is near and the holidays are upon us, there’s this one thing that we are looking forward to the most — the 13th month pay. In case you didn’t know, it is the much-anticipated bonus pay for employees, typically given by the end of the year.

For many of us, the 13th month pay isn’t just an extra paycheck — it’s a symbol of hard work paying off, quite literally. But what exactly is 13th month pay, and why is it such a big deal in the country? Let’s break it down.

What is the 13th Month Pay?

Simply put, 13th month pay is a mandatory annual benefit given to all rank-and-file employees in the private sector in the Philippines, regardless of the nature of their employment and how they are paid.

Philippine Peso Stock Image

According to Article 212 of the Labor Code of the Philippines, rank-and-file employees are those who don’t fall under a managerial, leadership, or supervisory position.

We all know that there is no 13th month on the calendar, but why is it called 13th month pay? This is because this bonus is often equivalent to a month’s worth of an employee’s basic salary — just like having an extra month for a year!

How Is It Computed?

The Department of Labor and Employment (DOLE), in its 2024 Workers Statutory and Monetary Benefits Handbook, declares that the 13th month pay amount an employee is entitled to should be equal to the total basic salary earned during the year, divided by 12 months; hence, it should not be less than one-twelfth (1/12) of the total basic salary earned by an employee in a calendar year.

Below is a sample of 13th month pay computation, as seen from the handbook:

Sample Computation of 13th Month Pay
Photo from 2024 Workers Statutory and Monetary Benefits Handbook

An important thing to note, though, is that the computation does not include allowances and additional benefits, such as cash payments for unused leaves, overtime pay, night differential, and holiday pay, among others.

Those who have resigned or have been terminated at any period before the 13th month pay is distributed must also receive a pro-rated payment. For example, if you only worked in a company from January to August of a calendar year, you’ll only receive a total of your basic salary for eight months, divided by 12.

Who are Entitled to a 13th Month Pay?

As mentioned, 13th month pay must be given to all rank-and-file employees of the private sector, whether they are regular, contractual, casual, or probationary, provided they have worked at least a month in the company. This, however, is not mandatory for government employees. In turn, government workers typically receive midyear or year-end bonuses.

Another exemption for 13th month pay is domestic helpers, or “kasambahays.” Don’t fret though, because they are still entitled to other benefits under the Kasambahay Law, also known as Republic Act No. 10361.

Office Stock Image

When Should It be Given to You?

According to DOLE, 13th month pay should be given no later than Dec. 24 every year. However, an employer may opt to give half of the accrued 13th month pay mid-year and the other half on or before the mandated day, depending on the agreement between the employer and employee.

What are 14th Month Pays and Christmas Bonuses?

While 13th month pay is mandatory, 14th month pay and other Christmas bonuses are entirely optional and voluntary. Meaning, it is up to an employer to reward their employees with such benefits. Usually, 14th month pay is computed the same way as 13th month pay, while Christmas bonuses depend on how much an employer wants to give. Some companies even offer a 15th month pay!

Philippine Peso Banknotes
Photo from Website/UNA Tax & Accounting Services

What to Do If You Don’t Receive It

As an employee, it’s important to know your rights. If you’re perfectly qualified for a 13th month pay and you don’t receive it within the deadline, there are legal options to consider.

Law firm Respicio & Co said in an article that employees can file a formal complaint with the DOLE Regional Office which has jurisdiction over their workplace, where mediation between the involved parties will occur. There’s also an option to file a small claims case in court, where you’ll need to gather the necessary documents to prove your claim.

Employers who fail to comply will be subject to penalties, including fines or administrative sanctions, among others.

Whether you’re looking to spend or invest your 13th month pay, it’s important to treat yourself, too, even just a little. After all, it’s Christmas!

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Manila/ Venture/ Money

UnionBank Mercury Credit Card, New Generation's Healthy Lifestyle Companion

Union Bank Mercury Card Is the New Generations Healthy Lifestyle Companion Photo by UnionBank

If there’s one thing the current generations love, it’s a well-balanced life: having great health and making smart financial decisions. Thankfully, UnionBank, in cooperation with drugstore chain Mercury Drug, has launched a new credit card that will give us just that!

The UnionBank Mercury Card, UnionBank and Mercury Drug’s newest offering, is a credit card that’s designed for the “health-conscious, rewards-loving generation.”

With it, cardholders can get numerous perks, including getting five times the reward points on all health and wellness purchases — whether you’re stocking up on vitamins and skincare products or signing up for your favorite fitness classes.

What makes it even more exciting is that there are no annual fees for life (NAFFL), plus there are other exclusive perks to enjoy, like getting a free annual physical exam and ambulance service, among many other benefits!

UnionBank Mercury Card Design
Courtesy of UnionBank

Apart from its stellar perks, cardholders can also enjoy that card’s sleek, modern, and stylish design, featuring an image of the iconic "Mercury Man" on the front.

Giving users a peek of its various benefits, UnionBank and Mercury Drug held a launch party on Oct. 18 at the Grand Hyatt Hotel in BGC, treating the guests to a day full of wellness activities. This included an outdoor yoga session, an indoor cycling class led by the fitness concept of Saddle Row, and rejuvenating treatments and massages from the Grand Hyatt Wellness team.

UnionBank x Mercury Drug Yoga Session
Courtesy of UnionBank
UnionBank x Mercury Drug Cycling Class
Courtesy of UnionBank

Speaking about the new card’s relevance in today’s generation, Steve Azcona of Mercury Drug said during the launch event, “We know the current generation is always looking for ways to live better, and that’s exactly why we created this card. It’s built around the idea that health is wealth, and we’re here to reward you for making the right choices.”

Want to get your hands on the new UnionBank Mercury Card and get started on your wellness journey? Apply here!

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