UnionBank, Lazada Launches PH’s First E-Commerce Credit Card

Union Bank of the Philippines (UnionBank) and Lazada Philippines, together with Mastercard, recently launched the all-new UnionBank Lazada Credit Card, the country’s first e-commerce credit card that makes online shopping even more rewarding.

The new UnionBank Lazada Credit Card is the only credit card that allows cardholders to directly earn up to 6-times Lazada wallet credits from their online spend—the highest earning rate among other credit cards in the market.

For every Php 200 worth of spending at Lazada, cardholders can earn Php 6 Lazada credits. Meanwhile, the cardholder earns Php 1 for every Php 200 on all other purchases outside Lazada.

“As the country’s leading digital bank, we’re truly excited about this new partnership because we believe 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.

During these uncertain times, UnionBank Lazada Credit Card gives customers a new safe, and secure payment option for their online transactions. As another testament to UnionBank’s digital banking technology, the UnionBank Lazada credit card also introduces a new virtual credit card that cardholders can use for online transactions without waiting for the physical card to be issued.

The cardholder will receive the virtual card, activate, and use it to make online purchases immediately once the application is approved. The virtual card can be viewed safely through the UnionBank Online app, with security controls including biometrics and one-time-password (OTP).

A physical card will also be delivered to cardholders for their face-to-face, point-of-sale transactions.

“It is a privilege to collaborate with UnionBank 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,” Lazada Philippines’ Chief Executive Officer Ray Alimurung said.

On top of that, cardholders need not compute for any point conversion. Earned rewards are in the form of peso value credits, plus earned credits can be conveniently transferred to the cardholder’s Lazada Wallet using their UnionBank Online app with just a few clicks anytime and anywhere.

“Mastercard is pleased to partner with the country’s multi-awarded digital bank and the top e-commerce platform in Southeast Asia to deliver more value to Filipino e-customers. 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,” said Rowell del Fierro, country manager in the Philippines for Mastercard.

For more information on how to apply for UnionBank Lazada Credit Card, visit unionbankph.com or lazada.com.ph.

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This is a press release. Edits were made prior to publishing.
Image grabbed from UnionBank website