VIB launches LazCard and Lazada cashback offer

(Photo courtesy of VIB)

LazCard card will be officially available for use from January 10 and, once customers successfully open one, their information and their spending within 30 days from the date of card issuance are saved, and they will immediately receive a Lazada e-voucher.

Customers can now register for a LazCard online on the VIB website or at Miniapp on the Lazada app. Miniapp allows seamless connection from card registration to approval, so that customers can use the cards in just 15-30 minutes thanks to the application of embedded finance technology.

With technologies first deployed by VIB in Vietnam, LazCard is expected to provide customers with a convenient shopping experience from opening cards to paying quickly, safely and seamlessly. This is a co-branded credit card that VIB has launched in cooperation with payment giant Visa and e-commerce platform Lazada.

Tran Thu Huong, head of Strategy and Retail Banking, said VIB has been teaming up with other companies worldwide to create card lines with modern technology and different features in order to bring unprecedented benefits for users.

The LazCard will not only bring more value to customers but also reaffirm VIB's position as a pioneer in bringing intelligent solutions for customers, Huong said. "This is also our next step on the journey towards a cashless society,” she added.

Deputy general director of Lazada Vietnam Dang Anh Dung said, "LazCard is the next initiative from Lazada and its partners in the journey to bring a smooth and convenient shopping experience to customers. We hope this card will become a trusted companion of customers thanks to its impressive offers and quick and easy process."

"We will continue to coordinate with partners to bring more new payment services, thereby meeting the diverse needs of customers," Dung said.

LazCard is the first co-branded card that integrates international payment cards and credit cards on the same chip. With this technology, cardholders can always use multiple sources of funds from their credit card limit and payment account, which will provide them with a different cashless payment experience.

Integrated card technology also supports users to immediately own a LazCard card without having to prove income or credit history. If not eligible to open a credit card, customers can use the LazCard for their regular payments to enjoy the privilege of completely free cashless payments for the first year. A credit limit will be automatically granted when customers meet VIB's conditions. The more spending they make, the higher limit they get.

(Photo courtesy of VIB)

The 50 per cent cashback offer for online shopping includes 20 per cent points accumulation for cashback on spending and 30 per cent from online shopping vouchers via Lazada every Friday and other special occasions, exclusively for cardholders.

These cardholders will accumulate bonus points corresponding up to 20 per cent on birthdays and 15 per cent on every other day of the year for spending through Lazada, and up to 800,000 bonus points per statement period.

Through the shopping vouchers, cardholders will receive an immediate discount of VND150,000 ($6.40) for orders worth at least VND450,000 ($19) every Friday, and VND1 million ($42.50) for orders worth from VND3 million ($127.50) on various other days.

Cardholders will also enjoy a series of attractive offers from VIB partners nationwide. The bank is offering customers cashback of up to VND3 million ($127.50) when they shop at Parkson Le Thanh Ton in Ho Chi Minh City's District 1; up to VND1 million ($42.50) on Lazada, Shopee, and Tiki; VND10 million ($425) off when buying TJC jewellery; and up to 20 per cent off on food, entertainment, and travel at various top travel websites.

Details of offers as well as terms and conditions of LazCard are available at vib.com.vn.

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