Tonik has launched the physical debit cards for clients of its mobile app.
Tonik customers can now order physical debit cards through the app, and use these cards at any ATM or merchant that is part of Mastercard’s global network, which includes the majority of the ATMs and card-accepting merchants in the Philippines.
Tonik’s debit cards are equipped with multiple pioneering features for secure payments:
- No name and card number on the face of the card – providing enhanced customer data privacy;
- In-app controls to easily freeze and unfreeze the debit card for transactions;
- Ability to manage limits of physical debit cards within the app
Tonik is supervised by the Bangko Sentral ng Pilipinas (BSP) and deposits are insured by the Philippine Deposit Insurance Corporation (PDIC). Its unique cloud-based solution is powered by global financial technology leaders such as Mastercard, Amazon Web Services, and Finastra.
“Filipino consumers increasingly prefer the convenience of physical debit cards for their daily transactions. However, the security of card payments remains their primary concern.” shared Greg Krasnov, Founder and CEO of Tonik. “Our physical debit cards are specifically designed to offer a highly secure payment experience. We hope this will help the Philippines continue on its rapid path of transition towards a cashless society and will help drive higher financial inclusion in the country.”
