Tonik, the Philippines' credit-led digital bank, has partnered with Robinsons Appliances, one of the country’s leading consumer durables retailers, to expand its Shop Installment Loan offering. This collaboration makes essential home appliances more accessible to Filipino consumers.
This partnership strengthens Tonik’s network, which now spans over 2,500 stores nationwide. As the only digital bank in the country with a strong focus on Shop Installment Loans, Tonik is committed to bridging the gap between financial inclusion and consumer needs.
Seamless digital lending for Filipino consumers
The Shop Installment Loan features a fully digital application process, minimal requirements, and quick approvals. Integrated into the Tonik App, the loan ensures a smooth and secure borrowing experience.
“At Tonik, we believe in breaking barriers to financial access,” said Greg Krasnov, Founder and President of Tonik. “Our partnership with Robinsons Appliances enables more Filipinos to access regulated credit conveniently, giving them the financial flexibility they need to improve their everyday lives.”
More than 80% of Tonik’s Shop Installment Loan customers are new to credit, providing them with a safe alternative to informal lending options.
Driving growth in digital lending
Tonik is the only digital bank in the Philippines to achieve positive unit profitability across three credit inclusion product groups. With a 119% growth in its loan portfolio in the second half of 2024, it is the fastest-growing digital bank in organic lending.
“We believe that Shop Installment Loans serve as an important first step for many Filipinos new to formal credit,” said Addi Valdezco, Head of Retail Partnerships at Tonik. “Through our partnership with Robinsons Appliances, we’re making financing more accessible, helping consumers build their credit history with a trusted digital bank.”
Donna San Luis, Marketing Manager of Robinsons Appliances, added, “Partnering with Tonik allows us to offer customers payment flexibility when purchasing essential appliances. With Tonik’s financing solutions, more consumers can afford the appliances and gadgets they need through easy installment options.”
Expanding nationwide accessibility
Launched in select Robinsons Appliances stores in late 2024, the partnership is set to expand nationwide in the coming months. By combining digital banking innovation with retail accessibility, Tonik and Robinsons Appliances are paving the way for greater financial inclusion in the Philippines.
