Follow us for updates
© 2020 reportr.world
Read the Story →

Lazada, Unionbank Offer Philippines' First E-Commerce Debit Card

Cardholders can score more wallet credits and get discounts.
by Clara Rosales
Oct 12, 2020
Photo/s: Pixabay / FirmBee
Shares

Online shopping has become both a necessity and escape for millions of Filipinos who have been quarantined for months. With the pandemic seeing spikes in online transactions, banks are partnering with e-commerce platforms to create convenient payment channels.

The new UnionBank Lazada Debit Card, the country’s first e-commerce debit card, allows cardholders to earn two Lazada wallet credits for every P200 spent on Lazada. One Lazada wallet credit is earned for every P200 spent outside the platform.

Discounts and offers from select LazMall merchants will also be offered to cardholders, along with first access to pre-sales and mega-sales.

courtesy of UnionBank

Opening an account

Continue reading below ↓

Interested individuals can open a UnionBank Lazada Debit Card account via the opening feature on the UnionBank online app or they can go to the UnionBank microsite accessible via the Lazada website and app.

Apart from the physical debit card, applicants will also be granted a Lazada Virtual Card which they can already use to transact online. This is the first online virtual card offering from UnionBank.

ALSO READ:
Traditional Banking Is A Hassle, Will It Ever Get Easier?
Why Does Lipstick Sell During Times of Crisis?

Other features

Like a regular debit card, the UnionBank Lazada Debit Card can also be used for other financial services such as cash payments, money transfers, deposits, and withdrawals. The card can also be used for online and cashless transactions.

Cardholders can earn interest from maintaining an average daily balance of P10,000 and above.

Funding the account with cash is possible via UnionBank branches and cash deposit acceptance machines, interbank transfers via InstaPay and PESONet, or even through 7-Eleven and ECPay’s partner merchants nationwide.

Continue reading below ↓
Latest Headlines
Read Next
Recent News
The news. So what? Subscribe to the newsletter that explains what the news means for you.
The email address you entered is invalid.
Thank you for signing up for COVID-19 updates. All you need to know about the global pandemic from your trusted Summit Media network.
By signing up to reportr.world newsletter, you agree to our Terms of Service and Privacy Policy.