Neobank Tonik Launches Physical Debit Cards in Mobile App

Tonik, the Philippines’ first neobank to secure a digital bank license from the Bangko Sentral ng Pilipinas (BSP), recently launched the physical debit cards for clients of its mobile app.

According to the official press release, 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.

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Responding to the needs of the Filipino consumers for higher security of card transactions, 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;

• 3D Secure and advanced antifraud, powered by Mastercard’s state-of-the-art security suite;

• Savings protection - Stash and Time Deposit accounts are not directly linked to the account with the card, thus protecting the savings;

Tonik encourages its customers to use their virtual card for online transactions, instead of the physical card, as in the unlikely event of the card being compromised the virtual card is very quick and easy to replace.