Italy-based UniCredit, a banking and financial services company, has formed a new partnership to launch Samsung’s payment service for its cardholders across the country.

Users of Samsung devices with UniCredit credit cards, MyPay and MyOne prepaid and debit cards will now be able to use the Samsung Pay app to make fast and safe transactions in-store.

The payment application is compatible with point-of-sale (POS) terminals enabled for contactless as well as magnetic strip cards without NFC technology.

The transactions require biometric authorisations such as fingerprint, iris or pin authentication.

UniCredit general manager Gianni Franco Papa said: “We are living in a world that is increasingly digital, characterised by a speed of change like we have never seen before and where people are constantly looking for personalised and instant services to meet their needs, anytime and anywhere.

“For this reason, we are committed to the development of innovative products and services: both leveraging our internal platform, as part of the Transform 2019 plan, through IT investment of €2.4bn and collaborating with external partners, to expand our offer with the best solutions on the market.”