UnaPay: Your Latest Lazada Shopping Partner
How do you usually pay for your purchases? Ideally, all items must be paid in cash so you don’t have to worry about interest rate. For big purchases like appliances, credit card is advisable so you don’t need to bring cold cash upon purchase. Just make sure you can pay for your bill on time otherwise, you will be charged with interest rate every month.
What if you need a certain item but you only have limited cash and doesn’t own a credit card?
The Buy Now, Pay Later scheme will help. BillEase and TendoPay may hold the crown but there’s also a new player in town: UnaPay.
All About UnaPay
UnaPay is a product of Digido Finance Corporation, a duly registered corporation that is registered to operate as a financing company as recognized by the Securities and Exchange Commission. Despite being new, the company uses state-of-the-art data encryption to ensure that customer’s information are safe.
Your latest online and hassle-free shopping partner allows you to shop now and pay for your purchases later so you could fully maximize your money. Loan application is also easy and convenient. Upon approval, the amount will be credited to your Lazada wallet.
Loan features include:
- Loan amount between P2,000 and P30,000. This can be increased depending on the frequency of your loan application and payment behavior.
- Interest rate of 5 percent per month
- Bi-monthly payment
- Installment term of one to six months
- No hidden fees like Registration Fee, Processing Fee, Maintenance Fee, Service Fee, or Prepayment Penalty Fee
- Penalty charge of 10% per month or 0.33 percent per day for unpaid and demandable installment payment
- P800 Late Payment Fee IF charges are not settled on the due date
- Online (through payment partner banks) and offline (7-11, Cebuana, LBC, Bayad Center, SM Bills Payment) payment channels are available
- Email reminders prior to due date of your loan
As of this writing, they recently partnered with Lazada for the BNPL scheme. Per UnaPay website, they are working on adding more merchants in their list.
Since they are also new in the market, you can only apply for a loan through their website. iOS and Android mobile applications will be available soon.
How To Apply For UnaPay Loan:
- Fill out the online application form by accessing UnaPay website. You can also click this link to access the online form. You can also apply through the Lazada Loan page, which you can access here.
- Configure your loan application according to your preferred loan amount and loan term. As you navigate the button, you will see the installment amount you have to pay every month. Once you decided on the amount and loan term, click Request Money.
- Verify your mobile number. Make sure that this is also the number you use in your Lazada account.
- Upload the following documents: government-issued ID, proof of income, and proof of billing.
- After completing your loan application, UnaPay representatives will immediately review your application. This will take anytime between 10 minutes and 24 hours, depending on the volume of application during the day. You will receive an e-mail notification indicating the status of your loan application, whether approved or not.
- If approved, then the approved amount will be topped up to your Lazada wallet. You can now use this to pay for your purchases.
UnaPay will also send a repayment schedule so you will be able to keep track of the due date. It is a must to pay on time to avoid incurring penalties. Non-payment of loan might force UnaPay to seek third-party collection services to claim for the unpaid amount.
Tips To Remember When Applying At UnaPay:
- Your UnaPay mobile number and email address must match your Lazada account. This way, it will be easier to link your UnaPay account and top up your Lazada account once approved. It will only take minutes for UnaPay to top up you wallet.
- Make sure to activate your Lazada wallet.
- Take one loan at a time. Although UnaPay won’t disqualify you for having existing loans or pending applications with other BNPL providers, make sure that the amount you’re applying for is something you can pay on time and in full.
- Consider paying your loan early. There will be no pre-payment penalty and this will even have a positive impact on your credit standing.
Give this a try, yes? Let us know in the comments section about your UnaPay experience.