UniCredit, Mastercard Announces Expansion of Partnership Deal to Cover More Markets

UniCredit S.p.A., the second-largest bank in Italy, announced it has signed a new deal with Mastercard to expand their partnership for payments. They have agreed to offer their services to more markets and banks.

As per Reuters, UniCredit and Mastercard’s agreement will cover 13 banks in 12 markets and in estimation, this means a total of 20 million cards. Their tie-up is expected to help deliver payment innovation while also improving the digital experiences of customers.

The international banking group headquartered in Milan said that this is the first time that a large, major commercial bank has put a single card in a multi-market of this scale as part of a business strategy in Europe. Mastercard said that UniCard has been an important partner of the company for many years thus, they are confident with their new deal.

Moreover, the enhanced collaboration between UniCard and Mastercard gives the essential resources to attain a shared goal of accelerating the pace of innovation in the payments industry while also putting the customers at the center of it all.

“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,” UniCredit chief executive officer, Andrea Orcel, said in a press release. “Our geographical reach and Mastercard’s expertise in this space enable us to not only streamline our partnerships and contracts but enhance our digital, security, and product offering for all our current and future cardholders.”

Finally, Mastercard’s CEO, Michael Miebach, also said, “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.”

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