Mastercard and UniCredit have announced an extension to their partnership by placing an emphasis on the latter’s Unlocked Strategy.
Dubbed as 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.
This also enables UniCredit to provide a ‘best-in-class offering’ for all its cardholders, delivering a simplified core product proposition, with a dedicated approach for innovation, increasing payment choice to customers, across multiple payments rails.
“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 of Mastercard.
The new deal will also provide insight and resources through the combined effort of both parties, with a particular focus on the implementation of new projects on common ESG goals, developing solutions to support empowering communities to progress, and fighting climate change with mindful spending choices
“This partnership epitomises 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,” added Andrea Orcel, CEO of 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.”