Zed, a credit-led neobank, has obtained its Certificate of Authority to operate independently as a credit card issuer from the Bangko Sentral ng Pilipinas (BSP). Following a six-month pilot program sanctioned by BSP, the Zed Card is now being introduced to the public through an invitation-only approach, beginning with its waitlist.

Its Mastercard Titanium Credit Card with no interest or fees was well received with nearly 40,000 sign-ups since the waitlist was launched in March 2024. Behind the Zed Card business model Zed is changing the credit card concept by using technology to support the upcoming generation of Filipino professionals with an influential credit card. The Zed card has no annual fee, foreign transaction fees, or any other fees, so customers pay for only their purchases.

Additionally, there is no revolving interest; clients receive up to 31 days of interest-free credit. Moreover, Zed presents a new credit limit strategy that goes beyond traditional interest revenue: smart credit limits. This means that they are evaluating a user's present and future income alongside other relevant data and then setting credit limits.

This method enables young professionals with minimal credit history to establish credit prudently and steer clear of restrictions tied solely to conventional credit scores. The Zed officials stated that they noticed an increase in engagement from their first cardholders, with a monthly transaction volume surge of 100%, and 48% of them engaging in daily transactions. Tonik drives financial inclusion for the underbanked in the Philippines Tonik, Philippines’ first licenced neobank also took a different approach.

They shared the APIs they have created with third-party developers, unlike traditional banks that typically keep their APIs private. This move aligns with the neobank's dedication to fostering innovation within a broader ecosystem. Moreover, Tonik has streamlined the account application process to just a few minutes, rather than hours or days, and removed the requirement for Filipinos to visit a physical branch.

By using Google Cloud’s Apigee API Management platform in conjunction with Daon, the neobank has made banking more accessible to rural Filipinos, which accounts for 52,6% of the population. .