The agreement was formalized through a Memorandum of Agreement (MOA) signing on October 23, 2026, at EMCOR's head office in Bajada, Davao City, launching the Tonik Shop Installment Loan at EMCOR.
The program will initially be available at 20 EMCOR branches, with plans to extend its reach to 30 more stores across Mindanao, the Visayas, and Palawan. BuyMaps
Tonik Chief Executive Officer Greg Krasnov underscored the partnership's potential to widen access to financial services, particularly in Mindanao, by giving more Filipinos opportunities to use digital banking and installment financing.
EMCOR President and Chief Operating Officer Nelson M. Aparejo, meanwhile, said providing customers with more affordable payment options is particularly important amid increasing living expenses.
Aparejo explained that EMCOR selected Tonik after determining that the digital bank's proposal was consistent with the company's principles and approach to customer financing.
“When we studied Tonik's proposal, it embodied the direction and the very culture of EMCOR,” he said.
He emphasized that EMCOR practices responsible lending, explaining that granting loans to people who are unlikely to repay them could place borrowers in a more difficult financial situation.
“We are not just giving credit indiscriminately because giving credit to customers whom we know cannot pay is also a disservice to them,” Aparejo said.
He added that the partnership would broaden customers' choices by offering another financing facility while helping them become more familiar with digital banking.
Tonik Head of Retail Partnerships Addie Valdezco also highlighted the need to ensure that lending remains responsible as more consumers gain access to credit.
For its part, Tonik said the collaboration would help the bank reach more customers in the Visayas and Mindanao. BuyMaps
The bank also cited its access to deposit funding as one factor that enables it to offer competitive interest rates.
According to Valdezco, the installment loan will initially allow eligible customers to borrow up to ₱50,000.
Those interested in applying may download the Tonik app and visit an EMCOR branch. Applicants will need to present one valid identification card.
The partnership is expected to give shoppers another way to manage the cost of essential purchases through installment payments while expanding access to formal financial services.