Tonik Digital Bank and appliance retailer EMCOR will expand their installment loan partnership to 170 EMCOR stores across Visayas and Mindanao in 2027, Tonik announced.

The partnership began with a pilot in 20 EMCOR stores, under Tonik’s Shop Installment Loan programme.

The two companies signed their agreement on 23 October in Davao City, after nearly two years of negotiations, SunStar reported.

One ID, Up to PHP 50,000

Customers at participating stores choose their products and apply for financing through the Tonik app. Once approved, they pay in installments.

First-time borrowers can get up to PHP 50,000 using one valid ID. This covers items such as appliances, smartphones, electric bicycles and furniture.

Tonik said it is keeping its financing rates competitive without significant increases.

It is holding the line even as rising operating and logistics costs push prices up across industries.

“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,” said Greg Krasnov, Founder and CEO of Tonik Bank.

EMCOR operates 177 stores across Mindanao, the Visayas and Palawan.

Its President and COO, Nelson Aparejo, said the tie-up gives customers a more convenient way to finance important purchases.

A US$118 Million Loan Book

Lending sits at the centre of Tonik’s business.

As of September 2026, its loan portfolio reached US$118 million, with an annualised revenue run-rate above US$69 million, the company said.

Besides shop installment loans, Tonik offers payroll-linked loans and digital cash loans, alongside savings accounts, time deposits and payments.

Its loans are assessed using data-driven credit scoring, which Tonik says helps keep lending responsible as it scales through retail and employer partners.

Featured image: Edited by Fintech News Philippines based on an image by Tonik Digital Bank via its website.