MANILA, PHILIPPINES — Union Bank of the Philippines (UnionBank) and Lazada Philippines (Lazada) recently signed a Memorandum of Agreement (MOA) for Quick Gives, to offer more flexibility in payment methods for UnionBank payroll customers in the Lazada app.
The Quick Gives Program will provide loans to pre-selected UnionBank payroll accounts, currently accessible through a microsite. These quick loans will be approved in real-time and disbursed to the borrower’s Lazada Wallet within two days or less.
UnionBank payroll customers can also get a loan from PHP 1,000 to PH P50,000 in flexible payment terms between one to 12 months. Best of all, there is only a minimum 1.25% interest rate per month.
“Many Filipinos trust Lazada as the ecommerce platform to go to for online purchases. Being a household name in the ecommerce 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 Transaction Banking Center and Platform Development Head. “We are glad to help Tech-Up the ecommerce industry, further enabling Filipinos to make the most out of their online purchases.”
With Lazada being at the forefront of ecommerce 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 with a trusted platform that will complement their needs and lifestyles,” said Lazada Philippines CEO Carlos Barrera.
Quick Gives will be launching in October 2022. For more information on quick loans, visit https://www.unionbankph.com.
