This strategic partnership is intended to expand payment choices for shoppers, particularly the Thai community, and customers from neighbouring Southeast Asian nations. The overarching objective is to stimulate both local and international transactions on Lazada, which stands as a prominent online shopping platform in the region.
Representatives from UnionPay International Thailand emphasised the significance of this collaboration and underlined the commitment to enhancing the shopping experience and broadening payment alternatives while fortifying UnionPay's presence in the ecommerce landscape. The partnership aims to meet the evolving needs of customers and to contribute to the expansion of Lazada's customer base.
As a result of this collaboration, Thai-issued UnionPay credit cardholders are eligible for discounts of up to THB 1,000 (USD 27,6) per person until November 30, 2023. Additionally, first-time UnionPay card users gain several benefits, including a THB 500 (USD 13,8) instant discount for their initial purchase, provided the minimum spend is THB 1,000, as well as a 10% discount capped at THB 250 (USD 7) on their subsequent two purchases, using a special the code with a minimum spend of THB 1,000.
Moreover, UnionPay has revealed via the official press release that it plans to offer other promotions for shoppers until February 2025. Representatives from Lazada Thailand highlighted the importance of offering an exceptional online shopping experience, with integrated and inclusive financial services playing a crucial role. This partnership enables UnionPay cardholders to make secure and convenient transactions on the Lazada platform while benefiting from exclusive privileges.
The press release further details that almost all ATMs and merchant POS terminals in Thailand support UnionPay cards at the time of writing. The growing acceptance network has led to an increased number of local residents applying for and using UnionPay cards, and more than half of Thailand's top 10 banks have issued UnionPay cards, with a cumulative scale of over 10 million cards.
In August 2023, India-based CRED partnered with the NPCI to introduce RuPay credit card UPI payments and make transactions more convenient for its members.
CRED, a community of creditworthy individuals, brands, and institutions, has joined forces with NPCI to introduce RuPay credit card-based UPI payments for its members. This collaboration brought a range of benefits for CRED users, as it allowed them to make UPI transactions using their RuPay credit cards issued by various banks such as HDFC Bank, ICICI Bank, Yes Bank, Axis Bank, BOB Financial Solutions, Canara Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, and Union Bank.
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