MasterCard has teamed up with buddybank, the Italian digital bank of UniCredit Group, to offer cardholders access to latest technologies and make secure payments through their mobile phones.
Beginning January 2017, users can directly manage payments through smartphones using the dedicated buddybank app.
The partnership will also offer cardholders benefit of additional MasterCard services such as InControl, to personalise their payments, ID Protection, to prevent risk of theft of personal and financial information, and Pin Change to easily change pin codes.
In addition, MasterCard Instalments will enable users to control and split payments before, during or after their purchases.
User will also get the benefit of MasterCard advanced debit and credit cards for their online and offline shopping. They can also use MasterCard digital services such as MasterPass and MasterCard Digital Enablement Service (MDES) that enables every commerce device to make payments through industry-standard tokenization.
Under the terms of the agreement, MasterCard Payment Transaction Services Europe will act as the buddybank’s fully-integrated technology partner to process debit and credit card transactions.
MasterCard division president Italy and Greece Paolo Battiston said: "I am delighted that buddybank has chosen to partner with MasterCard and believe our shared vision of driving payment innovation in new ways through mobile devices will enable Italians to manage their money in new, simple and secure ways.
"This partnership is a new step into the future of payments, to offer an easier and more secure shopping experience to our customers and to allow them to pay, control and manage via a simple click on their smartphone their personal finance and payments."