UnionBank, Lazada intro more flexible payment method

The purpose of this agreement is to give UnionBank payroll customers more options for how to pay in the Lazada app.

A Memorandum of Agreement for Quick Gives was recently signed between Lazada Philippines and Union Bank of the Philippines.

UnionBank payroll accounts that have been pre-selected and are currently accessible via a microsite will be eligible for loans through the “Quick Gives” program. Within two days or less, these quick loans will be approved in real time and sent to the borrower’s Lazada Wallet.

UnionBank payroll customers can also get a loan from Php1,000 to Php50,000 in flexible payment terms between 1 to 12 months. Best of all – there is only a minimum 1.25% interest rate per month.

“Many Filipinos trust Lazada as the e-commerce platform to go to for online purchases. Being a household name in the e-commerce space, our partnership will enable Lazada’s growing base of shoppers with more options when purchasing big ticket items as they gain access to loans with flexible payment terms,” said Ramon Duarte, UnionBank’s Transaction Banking Center and Platform Development Head.

“We are glad to help Tech-Up the e-commerce industry, further enabling Filipinos to make the most out of their online purchases.”

With Lazada being at the forefront of e-commerce and UnionBank standing as the torchbearer of innovative banking solutions, the Bank’s payroll account holders can expect a seamless way to make loan transactions as they shop using the Lazada app.

“With ever-changing consumer needs and shopping behaviors, Lazada’s focus continues to be elevating the end-to-end online shopping experience for Filipinos consumers by providing them a trusted platform that will complement their needs and lifestyles.” says Lazada Philippines CEO Carlos Barrera.