UnionBank, Lazada, Mastercard launch PH's first e-commerce credit card


Posted at Aug 07 2020 03:05 PM | Updated as of Aug 07 2020 06:25 PM

In this digital age and in the midst of a health crisis, more people tend to resort to online shopping so they can easily get access to their essentials without having to leave the comfort of their own homes. 

Thus, to further help the online shoppers in this situation, Lazada Philippines, together with Union Bank of the Philippines (UnionBank) and Mastercard, launched the UnionBank Lazada Credit Card, the country’s first e-commerce credit card that makes online shopping even more rewarding.

This credit card allows cardholders to directly earn up to 6x Lazada wallet credits from their online spend at Lazada—the highest earning rate compared with other credit cards in the market. 

Every P200 spend at Lazada the cardholder will earn P6.00 Lazada credits, while they earn P1.00 for every P200 on all other purchases outside Lazada.

"It is a privilege to collaborate with UnionBank and Mastercard as we work towards creating a secure and inclusive digital economy in the Philippines. With more people turning to the Lazada platform to meet their needs, the new UnionBank Lazada Credit Card will empower Filipino customers to get more value from their purchases as they embrace a cashless digital lifestyle," said Lazada Philippines CEO Ray Alimurung. 

During these uncertain times, this e-commerce credit card can help give customers a new safe and secure payment option for their online transactions. This is a testament to UnionBank's digital banking technology that allows their cardholders purchase their essentials without waiting for the physical card to be issued. 

Here is how it works: The cardholders will receive the virtual card, activate it, and use it to make online purchases immediately once the application is approved. The transactions and other details can be safely viewed through the UnionBank Online app that is equipped with security controls including biometrics and one-time-password (OTP). A physical card will also be delivered for face-to-face point-of-sale transactions.

On top of that, cardholders need not to compute for any point conversion. Earned rewards are in the form of peso value credits, plus earned credits — which can be conveniently transferred to the cardholder's Lazada Wallet using the UnionBank online app.

"As one of the country's leading digital banks, we are truly excited about this new partnership because we believe that the new UnionBank Lazada Credit Card will enable us to serve the growing needs of Filipino shoppers in this rapidly changing digital economy," said UnionBank President and CEO Edwin Bautista.

"The UnionBank Lazada Credit Card is a demonstration of Mastercard's global expertise in co-brands and its continuing commitment to bringing digital solutions that enable a seamless and secure shopping experience online," added Mastercard Country Manager in the Philippines Rowell del Fierro. 

Lazada is also offering exclusive shopping benefits with the usage of the UnionBank Lazada Mastercard. Shoppers can enjoy a welcome gift of P5,000 Lazada Wallet credits upon the approval of their credit card (Terms & Conditions apply), free monthly shipping of up to P50.00, free discount vouchers of up to P250 during Lazada's Mega Sales, special discounts, and other exclusive sales. 

Start a new digital shopping experience at Lazada and apply for the new UnionBank Lazada Credit Card here starting August 8. Get ready to #AddToCard everything you love at Lazada's 8.8 Shop Local Bounce Back Sale on August 6-8, 2020 as you show your support to homegrown brands.

Visit Lazada's official website, Facebook, Twitter, and Instagram pages for more updates.

NOTE: BrandNews articles are promotional features from our sponsors and not news articles from our editorial staff.