UniCredit and Mastercard Partnership to Drive Payment Innovation and Sustainability
UniCredit and Mastercard have announced an extensive expansion of their payment partnership, marking a significant milestone in Europe’s commercial banking sector. This groundbreaking agreement aligns with UniCredit’s Unlocked strategy and represents the first instance of a large commercial bank implementing a single card multi-market strategy of this magnitude. By combining UniCredit’s collective strength as a unified institution with Mastercard’s expertise in card payments, the partnership aims to deliver cutting-edge payment solutions and enhanced digital experiences to customers worldwide.
The extended multi-year partnership lays the foundation for accelerating innovation in the payments industry and placing customers at the forefront. UniCredit will be empowered to provide an outstanding offering to its cardholders, featuring a simplified core product proposition, optimized digital experiences, a comprehensive suite of in-app solutions, and a dedicated approach to innovation. This will result in increased payment choices for customers across multiple payment rails, solidifying UniCredit’s position as a leader in the market.
In addition to driving payment innovation, both UniCredit and Mastercard are committed to increasing their tangible actions in environmental and social sustainability through this partnership. By combining their insights and resources, they will focus on implementing new projects that align with common environmental, social, and governance (ESG) goals. These initiatives include supporting communities, combating climate change through mindful spending choices, and contributing directly to environmental objectives by integrating donations into everyday spending.
The partnership between UniCredit and Mastercard exemplifies the execution of UniCredit’s Unlocked plan, which unifies 13 banks to create value for stakeholders in a capital-light manner. By leveraging opportunities inherent in their European DNA, the partnership maximizes product simplification, cost synergies, and digital transformation within the payments industry.
The collaboration will specifically support UniCredit’s strategic priorities, such as the digitization of payment solutions and offering multifunctional solutions through fully equipped cards. By aligning with UniCredit’s brand attributes, the partnership aims to foster increased customer preference and loyalty throughout the consumer lifecycle. Mastercard’s acclaimed Priceless brand platform and sponsorship marketing assets will further enrich opportunities across UniCredit’s entire banking network.
Andrea Orcel, CEO of UniCredit, expressed enthusiasm for the partnership, stating, «This partnership epitomizes the essence of UniCredit Unlocked and our commitment to leveraging the full impact of our multi-market footprint as one complete offering for the benefit of our clients. Our geographical reach and Mastercard’s expertise in this space enable us to streamline partnerships, enhance digital security, and improve product offerings for all our cardholders. This collaboration represents the new way of managing projects at UniCredit, delivering benefits to all legal entities in a disciplined manner and acting as a unified company.»
Michael Miebach, CEO of Mastercard, also emphasized the value of the expanded relationship, saying, «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.»
The UniCredit and Mastercard partnership showcases a powerful combination of expertise and resources, driving payment innovation, sustainable practices, and an improved customer experience for cardholders around the world.