UnionBank partners with Lazada, Shopee

MANILA, Philippines — Aboitiz-led Union Bank of the Philippines has partnered with the country’s major e-commerce giants Lazada and Shopee to allow clients to do their online transactions seamlessly.

Erika Denise Dizon, first vice president and head of fintech business group at UnionBank, said the partnerships are timely amid the exponential rise in e-commerce and 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.

Under the partnerships, clients of UnionBank can now do their online shopping more conveniently through the country’s major e-commerce giants Shopee and Lazada by directly cashing-in their e-wallets.

Customers also enjoy discounts and added benefits with their online purchases, for every top-up transaction.

To cash-in a user’s Lazada Wallet, click the wallet icon on the upper right portion of the homepage. Select the cash-in button, enter the amount, and select “Add UnionBank account” in the Cash-in Methods page. The client will then be directed to the bank’s online banking site for confirmation of the transaction.

For ShopeePay using UnionBank Online Banking, go to ShopeePay Wallet, select Cash-in, enter the amount, select online banking as the payment method, and choose UnionBank. The user will then be directed to the bank’s online banking to confirm the transaction.

David Hardoon, senior adviser for data and artificial intelligence at UnionBank, said that there are safety nets to mitigate the risks associated with technology.

Hardoon believes that regulating AI is the wrong goalpost, arguing that the objective must be safety first and equality, promoting trust in the technology.

When thinking about operationalizing AI governance, Hardoon said it is imperative to have a broad appreciation of the risk that comes from available historical data.