UniCredit taps Wise Platform for cross-border retail payments service
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UniCredit is the first major bank in Europe to tap into the Wise Platform, which is powered by more than 70 licenses and six direct connections to payment systems globally, enabling cross-border payments to some 160 countries and over 40 currencies, with 65% of transfers settled in 20 seconds or less.
From this month, Italian retail customers will be able to enables international transfers from euros into several foreign currencies, with the same speed and simplicity as domestic payments, from the bank's app.
Initially, payments can be sent to recipients in selected countries, including the UK (GBP), Switzerland (CHF), Hong Kong (HKD), Singapore (SGD) and India (INR), with more currencies in development. The service will be rolled out to customers in other countries in the near future.
Raphael Barisaac, global head, payments and cash management, UniCredit, says: 'Our customers expect simple, fast and transparent solutions at an affordable cost, even when it comes to complex transactions such as international wire transfers. This new service was created to meet exactly these needs and represents a fundamental step in this direction.'
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