Italian bank UniCredit has partnered with Wise to launch an international payment service for retail customers.
UniCredit becomes the first major bank in Europe to utilize the Wise Platform, which operates with over 70 licenses and six direct connections to global payment systems. This enables cross-border payments to around 160 countries and supports over 40 currencies, with 65% of transfers settled in 20 seconds or less.
Starting this month, Italian retail customers can make international transfers from euros to various foreign currencies through the bank’s app, enjoying the same speed and simplicity as domestic payments. Initially, payments can be sent to selected countries, including the UK (GBP), Switzerland (CHF), Hong Kong (HKD), Singapore (SGD), and India (INR), with plans for additional currencies in development. The service will be expanded to customers in more countries soon.
Raphael Barisaac, global head of payments and cash management at UniCredit, stated, “Our customers expect simple, fast, and transparent solutions at an affordable cost, even for complex transactions like international wire transfers. This new service is designed to meet those needs and represents a significant step forward.”