UniCredit and Mastercard expand payments partnership

Friday 26 May 2023 13:45 CET | News

Pan-European bank UniCredit has expanded its partnership with Mastercard to bring innovation in the payments space with a fully equipped card.


Pan-European bank UniCredit has expanded its partnership with Mastercard to bring innovation in the payments space with a fully equipped card.

A redefined card experience

The agreement sets the stage for the start of a strong partnership consistent with the UniCredit Unlocked strategy. The commercial bank has put in place a single card multi market strategy. It brings together in one agreement UniCredit’s ability to harness the collective weight of 13 banks as one institution with Mastercard’s expertise in the card payment space. The significant broadening of the parties’ relationship will deliver payment innovation and augmented digital experiences to customers.

This multi-year partnership provides the necessary resources to achieve a shared ambition to increase the speed of innovation in the payments space and put customers at the centre. It enables UniCredit to provide a best in class offering for all its cardholders, delivering a simplified core product proposition, optimised digital experience with a full suite of in-app solutions and the development of a dedicated approach for innovation, increasing payment choice to customers, across multiple payments rails.

Keeping environmental and social stability in mind

Both parties’ commitment to increase their tangible actions across environmental and social sustainability will also be enhanced through this partnership. Insight and resources will be combined with a particular focus on the implementation of new projects on common ESG goals, developing solutions to support empowering communities to progress, fighting climate change with mindful spending choices and the ability to contribute tangibly to environmental goals, integrating donations in the everyday spend.

Unlocking the full potential of payments

This agreement is a clear example of the execution of the UniCredit Unlocked plan, uniting 13 banks to deliver value for UniCredit stakeholders in a capital-light manner, taking opportunities from European DNA but working as a unified group. It is one of the most immediate manifestations of the potential within payments, which UniCredit is focused on to further extract value in terms of product simplification, cost synergies and digital transformation.

The partnership will focus on supporting the delivery of the UniCredit’s strategic priorities. This includes digitalisation of payments solutions, offering multi functioning solutions with a fully equipped card. It aligns with UniCredit’s brand attributes to build increased preference and loyalty across the consumer lifecycle, enriching bank wide opportunities thanks to Mastercard’s strong award-winning Priceless brand platform and sponsorship marketing assets.

Officials from UniCredit sad this partnership epitomises the essence of UniCredit Unlocked and their commitment to leverage the full impact of their multi market footprint as one complete offering for the benefit of their clients. Their geographical reach and Mastercard’s expertise in this space enables them to not only streamline their partnerships and contracts, but enhance digital, security, and product offering for all their current and future cardholders. This is an example of the new way of managing projects in UniCredit, bringing benefits to all legal entities in a disciplined way and acting as a single company.

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Keywords: MasterCard, debit card, credit card, partnership, banks, digitalisation
Categories: Payments & Commerce
Companies: Mastercard, UniCredit
Countries: Europe
This article is part of category

Payments & Commerce




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