UniCredit and Mastercard Expand Payments Partnership
May 26 2023 - 5:37AM
Business Wire
- Unprecedented commitment, first of its kind in Europe
- Agreement extends to 13 banks in 12 markets across all card
products, totaling 20 mln cards
- Focus on accelerating innovation and enhanced customer
experience
UniCredit and Mastercard today announce a global expansion of
their payment partnership.
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The agreement sets the stage for the start of a strong
partnership consistent with the UniCredit Unlocked strategy. This
is the first time any large commercial bank has put in place a
single card multi market strategy of this scale in Europe. 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
enhanced digital experiences to customers.
This enhanced 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 center.
It enables UniCredit to provide a best in class offering for all
its cardholders, delivering a simplified core product proposition,
optimized 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.
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.
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 the most immediate manifestation 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 digitalization 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.
“This partnership epitomizes the essence of UniCredit Unlocked
and our commitment to leverage the full impact of our multi market
footprint as one complete offering for the benefit of our clients,"
said Andrea Orcel, CEO, UniCredit. "Our geographical reach and
Mastercard’s expertise in this space enables us to not only
streamline our partnerships and contracts, but enhance our digital,
security and product offering for all our current and future
cardholders. This is a perfect 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.”
“UniCredit has been an important partner for many years.
Together we have created real solutions that help people and
businesses across Europe. This expanded relationship will build on
that experience to bring new innovations to UniCredit cardholders,”
said Michael Miebach, CEO, Mastercard.
UniCredit Note for Editors
UniCredit is a pan-European Commercial Bank with a unique
service offering in Italy, Germany, Central and Eastern Europe. Our
purpose is to empower communities to progress, delivering the
best-in-class for all stakeholders, unlocking the potential of our
clients and our people across Europe. We serve over 15 million
customers worldwide. They are at the heart of what we do in all our
markets. UniCredit is organized in four core regions and two
product factories, Corporate and Individual Solutions. This allows
us to be close to our clients and use the scale of the entire Group
for developing and offering the best products across all our
markets. Digitalisation and our commitment to ESG principles are
key enablers for our service. They help us deliver excellence to
our stakeholders and creating a sustainable future for our clients,
communities and people.
Mastercard Note for Editors
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. With connections across more than
210 countries and territories, we are building a sustainable world
that unlocks priceless possibilities for all.
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version on businesswire.com: https://www.businesswire.com/news/home/20230526005126/en/
UniCredit Media Relations e-mail: MediaRelations@unicredit.eu
UniCredit Investor Relations e-mail: InvestorRelations@unicredit.eu
Mastercard Media Relations e-mail: Suman.Hughes@mastercard.com
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