PNB and Mastercard Launch Tokenised Digital Wallet Payments

Philippine National Bank (PNB) and Mastercard have formalised a partnership to accelerate the implementation of tokenised digital wallet payments in the Philippines.

This collaboration aims to update PNB’s payment infrastructure to improve transaction security and consumer convenience.

The technology, known as tokenisation, replaces a customer’s actual 16-digit card number with a unique digital token for each transaction.

This process reduces the exposure of sensitive card details, lowering the risk of fraud in both online and in-store settings.

Furthermore, tokenisation supports biometric authentication and assigns device-specific account numbers, providing multiple layers of security without disrupting the user experience.

PNB President and CEO Edwin Bautista noted that the integration of tokenised digital wallets reinforces the bank’s mission to provide seamless banking solutions.

He added that the initiative aligns with the bank’s commitment to service powered by trusted technology.

Mastercard’s strategy involves expanding secure digital infrastructure as e-wallet and contactless payment usage rise in the Philippines.

Jason Crasto, Mastercard Country Manager for the Philippines, stated that tokenisation strengthens consumer trust by providing a “frictionless and secure experience”.

To support cardholder value, Mastercard also provides access to travel and lifestyle benefits, such as curated global offers and rewards programmes.

The adoption of this technology signals a shift towards safer and more effortless routine transactions.

PNB aligns its payment infrastructure with global standards to ensure long-term reliability. Such a strategy allows the bank to reflect evolving customer trends in e-commerce and digital banking.

Featured image: Edited by Fintech News Philippines based on an image by Achmad Khoeron via Freepik.

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