UnionBank, one of many Philippines’ Common Banks, and Lazada, a well-liked e-commerce web site launched lately an e-commerce bank card as a response to the rising on-line procuring trade. Unique for Lazada use, the UnionBank Lazada Credit score Card is powered by Mastercard.
Cardholders can earn as much as six occasions Lazada pockets credit relying on their spending, which is alleged to be “the highest-earning rate among other credit cards in the market.” Cardholders earn P1 for each P200 spent. Earned rewards are in peso value credit, and earned credit could be transferred to their Lazada Pockets utilizing the UnionBank On-line app.
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The bank card is totally digital which suggests all transactions from software to approval will probably be performed on-line.
“It is a fully digital product that is only available online so basically people can apply this digitally,” stated Antonio Corro of UnionBank. “It is available at our Union Bank website and also on the Lazada website. Just apply online, submit all documents and it would be done at your convenience.”
“Since the beginning of the year, Lazada has seen two times more growth in monthly orders vs 2019,” stated Neil Trinidad, nation chief advertising officer, Lazada. “During the lockdown period, we’ve seen an acceleration with daily sales on the platform, growing by around two times compared to the previous period..”
After getting the approval, cardholders could have entry to the digital card and the bodily card will probably be delivered to the handle supplied. UnionBank assured that safety and privateness measures are in place.