Tonik Fintech

Mastercard has announced its partnership with tonik, a two-year-old Fintech startup that has recently received a bank license in the Philippines. Mastercard aims to improve tonik's position by enabling them to issue a range of electronic payment products. Tonik aims to drive digital financial inclusion and provide the unserved and underserved with formal financial services. As a mobile-only bank, tonik will be able to develop a highly customized, scalable banking solution that fits the needs of their customers. Having immediate access to Mastercard's global payment network, safety & security technology, data and analytics services, AI technology, and cybersecurity capabilities will be essential to tonik's growth and success in today's digital-first reality," said Greg Krasnov, CEO and Founder of tonik. Additionally, Rama Sridhar, Executive Vice President for Digital and Emerging Partnerships and New Payment Flows of Mastercard in the Asia Pacific, notes that fintech companies thrive when given the tools and technology to scale. At the Singapore Fintech Festival (SFF), he said that all 11 ASEAN countries will be covered ‘over the next 18 to 24 months’. He says that when more Filipinos gain reliable internet access, the demand for digital services (ecommerce, fintech) rises. Read more in our articles including "Mastercard and tonik partner to create the world's first digital Neo Bank" and "New Paramount offer challenges Netflix’s Warner Bros. deal".