UniCredit extends Open Banking partnership with Worldline

Tuesday 19 April 2022 13:22 CET | News

UniCredit, a pan-European bank, has renewed its partnership with Worldline, a provider of payment services, for the Open Banking third party provider (TPP) service. 

The partnership with Worldline allows UniCredit customers to connect their accounts in other banks throughout Europe via one single application programming interface (API). This enables UniCredit to offer Account Information Services (AIS) and Payment Initiation Services (PIS) and opens a range of business opportunities for both UniCredit and its customers.

UniCredit has been using Worldline’s Open Banking TPP service since 2020. The partnership has been extended for another two years.

Through the partnership with Worldline, instead of establishing separate connections with many different banks, UniCredit gains reach throughout Europe through a single API. Via this API, Worldline enables UniCredit and its customers to execute PIS and AIS services.

Worldline’s secure Open Banking infrastructure translates the formats of all different banks into a single API. This removes the complexity and friction of many diverse integrations and allows UniCredit to provide its customers with the ability to get a view of all their bank accounts held with one or more banks. It also enables them to initiate an online payment at an account from other banks in Europe. In addition, Worldline’s Open Banking TPP service allows UniCredit to discover new business opportunities to develop new services to the benefit of corporate and individual customers.

Worldline has been actively working on PSD2/XS2A since 2014, aiming to help the industry to make PSD2 work in practice. Besides the partnership for Open Banking, UniCredit also has long-term payment processing agreement with Worldline to handle all SEPA (Single Euro Payments Area) transactions, instant payments, multi-currency, domestic, and high value payments in Austria and Germany.

To find more about Worldline, check their profile in our company database.

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Keywords: partnership, Open Banking, banks, payments , TPP
Categories: Banking & Fintech
Companies: UniCredit, Worldline
Countries: Europe
This article is part of category

Banking & Fintech




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