Neobank Tonik Taps InstaPay to Enable Real-time Transactions

Tonik, the Philippines' first neobank, continues to make digital banking easy and convenient for Filipinos through the integration of InstaPay services on its mobile app. This makes the neobank the first officially BSP- recognized and licensed digital bank in the country to fully implement InstaPay services.

Customers can now send and receive real-time transactions for up to Php 50,000 to and from participating banks and electronic money issuers with no added transfer fees from Tonik.

"It has always been our mission to make digital banking work for the convenience and ease of Filipinos—and with InstaPay now in our service roster, it's even easier to transact using our proprietary mobile app. Filipinos work hard for their finances and they deserve to have a bank that works as hard in ensuring they get access to better ways in managing their hard-earned money," said Tonik Founder and CEO Greg Krasnov.

"This milestone of Tonik provides more opportunities for us to serve the underserved, and together with other financial institutions, the opportunity to serve the unbanked Filipinos who deserve a better banking experience," added Krasnov.