Local lender UnionBank and e-commerce firm Lazada have launched what it said is the country’s first e-commerce debit card – the UnionBank Lazada Debit Card.
Following the launch of the co-branded e-commerce credit card last August, the new UnionBank Lazada Debit Card allows cardholders to earn two Lazada wallet credits for every P200.00 spend on Lazada.
Meanwhile, cardholders earn one Lazada Wallet Credit for every P200.00 spend outside the Lazada platform. In addition, UnionBank Lazada debit cardholders are entitled to special discounts and offers from selected LazMall merchants, and first-hand access to pre-sales and mega-sales.
To open a UnionBank Lazada debit card account, applicants can either opt for the digital account opening feature found in the UnionBank Online app or go to the UnionBank microsite accessible via the Lazada website and app.
For added convenience, applicants who open an account via the UnionBank Online app will also be able to access the Lazada Virtual Card, UnionBank’s first virtual card.
As UnionBank debit cardholders, customers will be able to use UnionBank’s suite of digital banking solutions. These include cashless payments, money transfers to remittance centers, digital check deposits, as well as other features available in the UnionBank Online app. They will also earn interest for maintaining an average daily balance of P10,000 and above in their account.
Cardholders are given options to fund their accounts. The first option is through cash deposits at any UnionBank branch or cash deposit acceptance machine. They can also go with interbank fund transfers via InstaPay and PESONet, or through Bancnet ATMs. Alternatively, they can fund their accounts through 7-Eleven and ECPay’s more than 11,000 partner merchants nationwide, which include pawnshops and remittance centers.