Union Bank of the Philippines and Mastercard has launched country’s first e-commerce credit card, UnionBank Lazada.
The credit card allows cardholders to directly earn up to 6x Lazada wallet credits from their online spend at Lazada, the highest earning rate among other credit cards in the market.
“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.
“We’re excited to partner with Lazada Philippines and launch this newest co-brand credit card with the highest earn rate of up to 6X rewards at Lazada. Especially in this digital age and in the backdrop of limited mobility due to the global pandemic, more and more shopping is done online, and this card is the perfect product to use at Lazada. The more you shop at Lazada, the more you earn credits,” added Ana Delgado, UnionBank Consumer Finance Center head. “I invite everyone to experience how UnionBank Lazada Credit Mastercard makes adding to cart and checking out a rewarding experience. So add to card now!”
The credit card has an additional feature through which cardholders can pay online 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 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,”said Ray Alimurung, Lazada Philippines’ Chief Executive Officer.
“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.
