After two years in the making, Lazada and GCash finally announced their partnership on Wednesday, September 12, at a launch event in Bonifacio Global City. The e-commerce operator sealed the deal with Mynt, the financial tech company behind GCash.
GCash users can now pay for items in their check out carts using their GCash Wallet. All current users of GCash have only to select GCash as their preferred mode of payment, linking their GCash registered mobile number and tap one button to confirm their payment.
The GCash account will then be saved to the Lazada account and will be their primary payment method for future purchases. With over half of the Filipino population not having access to credit/debit cards, GCash said it solves the problem by providing consumers with a method to shop online without a card.
To load money onto a GCash account, a customer can visit any GCash partner outlet: 7-Eleven, SM Business Centers, Robinsons Business Centers, Puregold and Villarica Pawnshop branches, to cash-in to their GCash accounts.
Creating a GCash account comes without a fee, and once the customer has loaded onto their account, they’ll be able to shop and checkout on Lazada using GCash.
In addition to solving consumer issues, GCash and Lazada “enables merchants to expand their consumer base and minimize risk on COD (cash-on-delivery) transactions.”
“This goes back to our journey for financial inclusion. Now, no matter how small or big a Filipino is, he or she can enjoy Lazada goods and services via GCash,” said Anthony Thomas, Mynt’s president and CEO.
Lazada Philippines CEO Ray Alimurung took the tie-up for a run on stage while trying to purchase an item for his kids on the website.
“With Lazada and GCash’s collaboration, customers will have more flexible payment options and enjoy exclusive and exciting promotions. Lazada is the biggest online shopping destination in the Philippines, offering 70 million products and 10,000 brands,” he said.
GCash and Lazada are holding promotions for customers that decide to pay using GCash, especially during their special sale shopping days on November 11 and December 12, where customers can get 50% off items up to P300. They can also enjoy 20% discounts up to P200 during flash sales.