Union Bank of the Philippines (UnionBank) and Lazada Philippines, together with Mastercard, have 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 6x Lazada wallet credits from their online spending at Lazada—the highest earning rate among other credit cards in the market. Every PHP 200 spend at Lazada purchases earns the cardholder PHP 6 in Lazada credits. Meanwhile, cardholders earn 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 Edwin Bautista, president and CEO, UnionBank.
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—which cardholders can use for online transactions without waiting for the physical card to be issued.
The cardholder will receive the virtual card, and can 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,” said Ray Alimurung, chief executive officer, Lazada Philippines.
“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, consumer finance center head, UnionBank. “I invite everyone to experience how UnionBank Lazada Credit Mastercard makes adding to cart and checking out a rewarding experience.”
“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 for the Philippines, Mastercard.
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, anywhere.
Card applicants get PHP 5,000 Lazada Wallet credits as a welcome gift when their application for a UnionBank Lazada Credit Mastercard is approved (Terms and Conditions apply). Cardholders can avail of free monthly shipping of up to PHP 50 and free discount vouchers of up to PHP 250 during Lazada Mega Sales (birthday sale, mid-year sale, 9.9, 11.11. 12.12). There will also be special discounts and exclusive sales from Lazada.