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Challenger bank Tonik acquires paytech firm TendoPay

December 7, 2022

Through the acquisition, Tonik aims to augment its lending portfolio and integrate payroll-enabled financial services into its operations.

Launched in 2019, TendoPay offers services including virtual cards, prepaid health insurance cards, 0% interest purchasing loans, emergency cash loans, a personal finance management tool and a rewards programme.

It claims to have partnered with over 200 companies and has developed a network of over 500 brands and e-commerce sites.

“By delivering mass-market digital credit products that are accessible, affordable and easy-to-use, Tonik will expand the ways in which it helps Filipinos manage their financial future,” says Tonik founder and CEO Greg Krasnov.

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