Tonik Digital Bank, the Philippines’ first licensed digital-only bank, plans to expand its app-based installment financing to 170 EMCOR stores in 2027, following an initial pilot in 20 stores. The partnership covers purchases of household appliances, electronics, and other essential products across Visayas and Mindanao.
Customers at participating stores can choose a product and apply for a Shop Installment Loan through the Tonik app. Applications are subject to credit approval. The service brings together Tonik’s digital lending technology and data-driven credit assessment with EMCOR’s established retail network.
EMCOR is a Philippine retail chain based in Davao City that sells home appliances, motorcycles, furniture, computers, and other IT products.
“Financial inclusion isn’t just about giving more people access to loans,” said Greg Krasnov, founder and CEO of Tonik Bank. “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.”
The planned expansion places loan applications at the point of purchase, allowing customers to arrange financing for products they select in stores. Tonik said working with retail partners helps bring formal credit to communities underserved by traditional banking channels.
“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,” said Nelson Aparejo, president and COO at EMCOR.
Tonik said it is maintaining competitive financing rates without significant price increases despite higher operating, supply chain, and logistics costs. The announcement did not specify interest rates, repayment periods, or fees for loans offered through the EMCOR partnership.
The bank described transparent pricing and manageable repayments as part of its approach to responsible lending. Its credit assessment uses technology and data to evaluate applications, while retail and employer partnerships help extend its lending services to eligible customers.
Licensed by the Bangko Sentral ng Pilipinas (BSP), Tonik offers Shop Installment Loans, payroll-linked loans, digital cash loans, and other lending options. Its banking services also include savings accounts, Time Deposits, fund transfers, and payments.
As of September 2026, Tonik reported a loan portfolio of $118 million and an annualized revenue run-rate exceeding $69 million. The EMCOR rollout forms part of its broader expansion in consumer lending, using physical retail stores to connect shoppers with financing available through its digital banking app.