Yes, Lazada Wallet and Shopee Pay holds the funds in escrow until the buyer confirms delivery. However, if there is a refund, the money returns to these. If I pay through GCash, it is refunded back to GCash. Which is what I wanted in the first place. But due to limitations of GCash, I ended up sending the money to Lazada Wallet. I didn't want to use my credit card or ATM debit card.
GCash, Maya and Shopee Pay require a valid gov't ID confirmation to raise the monthly limit to above 50K. I don't recall confirming with my ID on Lazada Wallet. Maybe there's a monthly 50K limit. There was a time when I hadn't confirmed on Shopee Pay and I exceeded the limit after buying PC parts. The Shopee Pay confirmation process was tedious. Aside from supplying my gov't ID one with a close up photo and one with me holding it below my face, I also answered shome question like "am I at one time related to a high gov't official (Congress, Judfge, etc..)"?. After the last big transaction,.GCash sent me a text message stating they raised my monthly limit to 500K.
BTW, I use BPI mobile app to pay bills, transfer money and load GCash. It's quite convenient. Strangely, the mobile key to confirm a transaction is tied to the phone and not to the SIM. I had already transferred my SIM to the new phone but the mobile key was still sent to the old phone and confirmed with its fingerprint sensor. There is (probably) an option to transfer mobile key confirmation to the new phone but I am keeping it on the old phone because that one is staying home.