UnionPay-UniCredit deal to facilitate Chinese payments in Italy
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Unicredit Union Pay
Sojourning in Italy will soon be easier for Chinese people. UnionPay and UniCredit â€“ one of the countryâ€™s biggest bank groups, with various European branches â€“ have signed a collaboration accord that will extend the use of Chinese credit cards in Italy, both for business and for tourism. The official news comes from Unicredit headquarters in Milan. Today UnionPayâ€™s credit cards can be used at 70% of Italian ATMs and in 100,000 shops.
The agreement was announced on November 14th during an official ceremony led by UnionPay president, Su Ning, and Federico Ghizzoni, Unicreditâ€™s CEO. UnionPay is the only credit card distributor in China and it is crucial that Chinese people visiting foreign countries be permitted to use it.
On UnionPayâ€™s side, Mr. Su Ning said that the request for cross-border payments is growing fast: Chinese and Italian citizens, in fact, travel more and more often for business and for tourism. â€œUnionPay is working alongside its Italian partners with the aim of extending the use of our cards in Italy,â€ said Mr. Ning. â€œThis deal will not only benefit card owners, permitting them to enjoy more efficient services, but will give greater support to trade and to interpersonal exchanges between China and Italy.â€
The deal, underlined Mr. Ghizzoni, will allow Italy to meet the needs of the ever-growing number of Chinese tourists that visit the country, one million in 2012. â€œUniCredit is honored to collaborate with UnionPay,â€ stated the CEO. â€œThe agreement strengthens the relationship between our companies and our countries. We mean to continue supplying high-level services to UnionPay card owners, in order to make their trips to Italy more comfortable and enjoyable.â€
Cai Jianbo, UnionPayâ€™s CEO, and Roberto Nicastro, general director of UniCredit, also joined the ceremony to sign the agreement in the presence of the Consul General of China in Milan, Liao Juhua.