The pandemic has significantly altered everyone’s lifestyle. And one thing that is easily observable is the change in how we buy things.
“People are spending more time on e-commerce sites, they are buying around two times more, they are doing online transactions two times more,” reveals Lazada Philippines’ Chief Marketing Officer Neil Trinidad in a recent online press conference.
He also notes that on Lazada, one of the country’s biggest e-commerce sites, they have seen a growth of about 15 times on grocery sales—“this is a category that didn’t exist on e-commerce before.” Health and hygiene products (all sorts of housecleaning products and rubbing alcohol), grew by 10 times.
What’s interesting to note, he says, is the growth of the electronics category—whether it’s in beauty and personal care, fashion, or general merchandise. (We bet many have already bought an electric razor.)
The change in consumer behavior is also reflected in the way people make their purchases. As safety and convenience become a primary consideration, many have shifted to cashless transactions.
“The Philippines is largely a cash on delivery (COD) market,” observes Trinidad. “And we did see a change in behavior during the COVID-19 pandemic. People are really looking for a frictionless, seamless digital experience, and also a more secure and safe payment option as opposed to COD.”
To address the need for a “safe, seamless, and secure online payment transaction,” Lazada Philippines partnered with Union Bank of the Philippines (UnionBank) and Mastercard to launch the UnionBank Lazada Credit Card.
“As the first e-commerce credit card in the country, it will support the growing demand for cashless payment on e-commerce platform, and it will also create an enhanced digital shopping experience by making the online shopping experience even more rewarding,” explains Trinidad.
The new UnionBank Lazada Credit Card allows cardholders to directly earn up to 6 times on their Lazada wallet credits from their online spending at Lazada. Every P200 spent earns a cardholder P6.00 worth of Lazada credits. Meanwhile, the cardholder earns P1 for every P200 on all other purchases outside Lazada.
“We are also providing a monthly free shipping of Lazada purchases up to P50. Every month, every card holder automatically has P50 free shipping,” says UnionBank of the Philippines’ Cards Business Head Anton Corro.
“Cardholders will also get discount vouchers worth P250 on the five Mega Sales—the birthday sale, the midyear sale, the 9-9, the 11-11, and the 12-12. We will also be providing discounts on selected LazMall merchants. Our cardholders will get first dibs on pre-sales and mega sales,” he adds. Five thousand pesos worth of Lazada Wallet credits also await cardholders once card application is approved.
Since this product is fully digital, it’s only available online. “Simply go to UnionBank and Lazada websites and look for the link. Submit all your data and documents online—it’s all done at your convenience,” says Corro.
Once application is approved, the cardholder will receive the virtual card which can immediately be used once activated. 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.
Like any other credit card, holders may also apply for a supplementary card, which users can share with their family.