UnionBank Partners with LAZADA and Shopee as Cashless Transactions rise

The Aboitiz-led UnionBank has partnered with e-commerce giants, Lazada and Shopee, to give clients a more efficient online shopping experience.

VP and head of the Fintech business group of UB, Erika Dizon, has said that the partnership is timely due to the exponential rise in cashless transactions amid the pandemic.

“This ensures Filipinos can participate in the headwinds of innovation and a better, more seamless customer experience as a result,” Dizon said.

Through the partnerships, UnionBank clients can conveniently shop on Lazada and Shopee by directly cashing in their e-wallets. Customers can also enjoy discounts and additional benefits with their online purchases for each top-up transaction.

On Lazada, users can click the wallet icon on the top right, select the cash-in button, enter the desired amount, and finally select “Add Unionbank account” on the Cash-in Methods page. After following the steps clients will be directed to UB’s online banking site to confirm the transactions.

As for ShopeePay, go to ShopeePay Wallet, select Cash-in, enter the amount, select online banking as the payment method, and choose UnionBank. Once again, clients will then be directed to the bank’s site to confirm the purchase.

Senior advisor for data and artificial intelligence at UnionBank, David Hardoon, has said that there are safety nets to reduce risks associated with technology. He believes that regulating AI is the wrong objective, rather he pushes for safety first by promoting trust in the technology.

Hardoon mentions that it is imperative to have a broad appreciation of the risk that comes from available historical data.

Source: Philstar