PNB, Mastercard roll out tokenized e-wallet payments

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Keisha Ta-Asan - The Philippine Star

February 15, 2026 | 12:00am

(From left) PNB cards products head Sheila Caeg-Bilog, PNB cards and financial solutions group head and officer-in-charge Joel Tirona, PNB chief financial officer Francis Albalate, PNB president and chief executive officer Edwin Bautista, Mastercard country manager Jason Crasto, Mastercard director of accounts Mike Miranda and Mastercard director of accounts Ailea Zialcita at the PNB and Mastercard engagement event in Pasay.

STAR / File

MANILA, Philippines — Philippine National Bank and Mastercard are deepening their partnership to accelerate the rollout of tokenized digital wallet payments, a move aimed at strengthening transaction security while making everyday payments more seamless for Filipino consumers.

The collaboration was formalized during a signing ceremony in Manila, setting the stage for the development and implementation of tokenization across PNB’s digital payment offerings.

The initiative comes as banks intensify investments in technologies that protect customers amid the rapid shift to cashless and online transactions.

PNB president and CEO Edwin Bautista said the launch of tokenized digital wallet integration reinforces PNB’s mission to deliver more seamless digital banking solutions.

“Filipinos are looking for faster and more secure ways to pay every day, and we want to meet that expectation with innovations that make life easier. Tokenization isn’t just a niche security upgrade – it is the future of payments, giving customers smoother and safer experiences,” he said.

“This aligns with our commitment to world-class service powered by trusted technology and partners,” Bautista added.

Tokenization replaces a customer’s actual card number with a unique digital token for each transaction, reducing exposure to fraud in both online and in-store payments.

The technology enables biometric authentication and assigns a device-specific account number instead of transmitting sensitive card details, adding multiple layers of security without disrupting the payment experience.

The partnership also aligns with Mastercard’s strategy of expanding secure digital payment infrastructure in the Philippines as usage of e-wallets and contactless payments continues to rise.

“This collaboration with PNB underscores Mastercard’s commitment to strengthening the security and convenience of digital payments in the Philippines,” said Jason Crasto, Mastercard country manager for the Philippines.

“Tokenization helps strengthen consumer trust by providing a frictionless and secure experience, which supports the growth of the Philippines’ digital payments ecosystem.”

As digital payments become more embedded in daily life, both institutions said the adoption of tokenization sends a clear signal to consumers: routine transactions are set to become safer, simpler and more convenient, whether online or in-store.

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