When it comes to online shopping on portals such as Lazada Malaysia, the common way to pay is via online banking or credit/debit card. Now Lazada has introduced its own wallet which aims to make payments and even refunds quicker than before.
Essentially, the Lazada Wallet is like an online prepaid account and you can top up via online banking (Maybank, CIMB, Public Bank, RHB, Hong Leong, Ambank, Bank Islam) and with a credit or debit card. Alternatively, you can also top up at your nearest 7 Eleven outlet.
To activate the wallet is pretty easy if you already have an existing Lazada account. Just go to the Lazada Wallet page and click on Activate. They would just need to verify your email and your mobile number. Once that’s done, you can start topping up your Lazada Wallet from as little as RM1 up to a maximum of RM4,999. RM4,999 is the maximum value that the wallet can hold.
When you check out from your shopping, you should see Lazada Wallet as the first option. Once you hit “Place Order Now”, it will go through instantly without even asking for a PIN or password for verification. The convenience here is that you don’t need to fumble around with banking logins and slow incoming SMS for TAC numbers. However, that also means that the only layer of security is your main Lazada login.
Although it is introduced as a wallet, there are several limitations that you should know. Firstly, it doesn’t allow wallet to wallet transfers among Lazada users and you can’t use it on other platforms. The wallet also lets you withdraw money but it is only for refunds and not from your actual top up balance. So if an order gets cancelled or returned, that’s the only amount that you can withdraw. When taking out your refunded amount, it has to be in full and you can’t do partial withdrawals. You can read the full FAQ here.
To entice more users to use the Wallet, Lazada is offering 10% cashback every Tuesday with a minimum spend of RM100. The 10% cashback is capped at RM20 and it’s only applicable on the Lazada app. According to the T&C, each user is only eligible to a RM20 cashback per week and the platform has an overall cashback limit of RM40,000 per week which is given out on a first come, first served basis. This cashback promo is available from today, 10 April until 1 May 2018. You can read the full cashback T&C here.
For more info, check out the Lazada Wallet page.