UniCredit taps Wise to power international payments

By Vriti Gothi

UniCredit, a European commercial bank, has partnered with Wise, a global technology company specialising in cross-border payments, to launch an innovative international payments solution.

This milestone positions UniCredit as the first major European bank to offer retail customers fast, secure, and competitively priced foreign-currency payments directly through its mobile banking app.

Starting in Italy, the new service empowers UniCredit’s retail customers to send international transfers with the same speed, ease, and transparency they expect from domestic payments. Customers can seamlessly convert euros into multiple foreign currencies, including GBP, CHF, HKD, SGD and INR, with additional currencies set to follow. In most cases, recipients receive funds within seconds, benefiting from clear, upfront pricing and a user experience designed to remove the traditional friction from cross-border transactions.

Building on its proven track record of driving payments innovation, UniCredit has already transformed foreign exchange capabilities through services such as UC PayFX, which enables embedded FX conversion for over 120 currencies, alongside advanced transaction monitoring and management tools via UC PayFX Webservice. The new partnership with Wise Platform marks the next phase in UniCredit’s ambition to redefine the payments experience for its customers across Europe.

Unlike traditional cross-border payments, which often depend on legacy correspondent banking networks with unpredictable costs and slower processing times, this new solution leverages Wise’s direct connections to local payment systems worldwide. This infrastructure ensures greater speed, security and price transparency, directly aligned with UniCredit’s commitment to customer-centric digital transformation.

The new service will be available to UniCredit retail customers in Italy from 21 July 2025, with plans already underway to expand access to additional European markets. By continuing to integrate cutting-edge technology and trusted partnerships, UniCredit is reaffirming its vision to become Europe’s leading bank for payments — transforming the way customers move money across borders and shaping the future of financial services.

Raphael Barisaac, Global Head of Payments & Cash Management at UniCredit, said, “Our mission is to transform payments into an agile, borderless experience, capable of moving with the speed and transparency of a fintech. 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.”

Steve Naudé, Global Managing Director at Wise Platform, said, “This partnership marks a milestone for millions of people and businesses that rely on UniCredit for their daily banking needs. Wise and UniCredit share a clear vision and a strong consumer focus and we’re looking forward to offering an even more seamless, faster, and efficient international payments experience to UniCredit’s customers.”