SANTO DOMINGO. – Banco Popular Dominicano launched Toke, its new comprehensive digital payments solution, designed to transform the way people and businesses exchange money in the Dominican Republic and accelerate financial inclusion nationwide.
More than a digital wallet, Toke is a payment ecosystem designed to connect people and businesses in the same digital environment, eliminating friction, simplifying transactions and reducing dependence on cash, which today represents 75% of everyday payments in the country.
A solution designed to scale inclusion
The initiative arises in a context where more than 35% of the local population remains unbanked or makes limited use of formal financial services, according to data from the World Bank's Global Findex Database. Faced with this reality, Toke aims to integrate more individuals and micro, small, and medium-sized enterprises (MSMEs) into the formal financial system, promoting access, traceability, and security in everyday transactions.
This digital payment infrastructure, approved by the Superintendency of Banks, allows anyone, whether banked or not, to make payments, transfers and collections from their cell phone easily, quickly and securely, 24 hours a day, 365 days a year.
Its design responds to a clear vision: to democratize access to financial services, simplify the user experience, and create new economic opportunities for millions of Dominicans.
For those currently outside the formal financial system, Toke represents a direct entry point. Through a digital Flash Account, obtained in minutes via electronic verification, users can begin building a financial history and actively participate in the digital economy.
Toke, also for businesses and entrepreneurs
Toke was conceived from its inception to also serve micro and small businesses, entrepreneurs and informal businesses, who face structural barriers derived from the intensive use of cash.
By generating their own QR codes and processing instant payments, businesses affiliated with Toke can accept digital payments immediately, seamlessly, and more securely, reducing operating costs and risks associated with handling cash.
With this, Banco Popular promotes the creation of an ecosystem that integrates four key segments: unbanked people, banked users, micro and small businesses, and formal companies.
The result is a digital network that connects supply and demand in real time, strengthens formalization, and boosts economic growth.
Digital strategy and inclusion
With Toke, the bank underlines its commitment to contributing to the democratization of financial services as part of its founding mission for 62 years, while demonstrating its commitment to innovation by presenting this digital solution as a modern alternative to cash.
In this regard, the CEO of Banco Popular, Mr. Christopher Paniagua, pointed out that Toke is part of the organization's digital transformation strategy for financial services to continue expanding banking access for the population, as an essential part of the nation's development.
“We are expanding our digital solutions to millions of users with this service, which is clearly geared towards financial inclusion and economic growth. Toke connects all types of people and businesses within the same digital environment, boosting digital payments and promoting greater efficiency, traceability, and security in everyday transactions. When we simplify payments, we not only modernize the economy, but we also open up opportunities and change lives,” he said.
Where can you find Toke and how does it work?
Toke is available through three channels: for Banco Popular customers, as a button integrated into the Popular App; for Qik Banco Digital customers, within their application; and as a standalone application for people over 18 years of age with a Dominican ID card.
Registration is completely digital and takes only minutes, requiring an active cell phone and internet connection.
Once the account is activated, the user can use Toke without needing an internet connection. This solution allows them to send and receive money from their contacts using only their mobile phone number, pay at stores or collect payments via QR code, make transfers between Popular and Qik accounts with immediate availability, and top up their mobile phone. All in seconds and without any hassle.
Adopting Toke means joining the modern age and digital citizenship, as it is a convenient, safe and reliable payment method, protected by cutting-edge technology and backed by Banco Popular.
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