Tonik Digital Bank has partnered with appliance and electronics retailer EMCOR to expand access to affordable consumer financing across Visayas and Mindanao, with plans to roll out its Shop Installment Loan service to 170 EMCOR stores by 2027.
The partnership, which began with a pilot program in 20 EMCOR stores, aims to provide more Filipino consumers with flexible financing options for household appliances, electronics, and other essential purchases.
Under the arrangement, customers at participating EMCOR branches can select their preferred products, apply for financing through the Tonik mobile application, and pay through installment plans, subject to credit approval.
The collaboration combines Tonik’s digital lending platform and data-driven credit assessment capabilities with EMCOR’s established retail presence in Visayas and Mindanao.
Tonik said the initiative comes amid rising operating, supply chain, and logistics costs that continue to put pressure on consumer prices and household budgets. Despite these challenges, the digital bank said it intends to maintain competitive financing rates without significant increases in borrowing costs.
Greg Krasnov, founder and chief executive officer of Tonik Bank, emphasized that expanding financial inclusion requires more than simply making loans available to consumers.
“Financial inclusion isn’t just about giving more people access to loans. It’s about making sure those loans are affordable and genuinely useful in everyday life. With household budgets under pressure, we believe responsible lending means keeping financing competitive, transparent, and manageable. Our partnership with EMCOR helps us bring that opportunity to more Filipino families,” Krasnov said.
For EMCOR, the partnership provides another financing option for customers seeking to purchase household essentials without paying the full amount upfront.
“For us at EMCOR, this partnership is about giving our customers more ways to bring home quality products they need. By working with Tonik, we can offer a convenient financing option that helps make important purchases more manageable for families across Visayas and Mindanao,” according to Nelson Aparejo, president and chief operating officer of EMCOR.
The planned expansion from 20 to 170 stores represents a significant increase in Tonik’s retail financing distribution network. It also reflects the bank’s strategy of working with established retailers to reach consumers who may have limited access to conventional banking and lending services.
By integrating loan applications into the retail purchasing process, Tonik aims to simplify access to formal credit while allowing customers to spread the cost of major purchases over manageable payment periods.
The EMCOR agreement forms part of Tonik’s broader efforts to expand its digital banking ecosystem, particularly its consumer lending operations.
Regulated by the Bangko Sentral ng Pilipinas (BSP), Tonik offers several lending products, including Shop Installment Loans, payroll-linked loans, and digital cash loans. Its banking services also include savings accounts, time deposits, fund transfers, and digital payments.
The bank has increasingly relied on technology-driven credit assessments, risk management systems, and partnerships with retailers and employers to expand its customer base and lending portfolio.
As of September 2026, Tonik reported a loan portfolio of $118 million, with an annualized revenue run rate exceeding $69 million. The figures reflect the bank’s expanding lending operations as it pursues sustainable growth in the Philippine digital banking market.
With its planned expansion across EMCOR’s retail network, Tonik is positioning point-of-sale financing as an important component of its consumer lending strategy, particularly in provincial markets where access to traditional banking services may be more limited.
The partnership also highlights the growing role of digital banks and retail financing arrangements in providing alternative payment options for Filipino households seeking to manage essential purchases amid continued economic pressures.