Everything you need to know about UniCredit

The Czech Republic is one of the fastest-growing e-commerce markets in Europe. It’s no wonder that more and more international retailers and brands are expanding their operations to what has become a key market in Central and Eastern European e-commerce.

Merchants seeking to enter the Czech Republic, however, must be prepared to offer payment methods that local customers prefer.

One of the key payment methods on the Czech market is UniCredit, which offers a pay-by-link option that is popular with customers in both the Czech Republic as well as neighboring Slovakia.

What is UniCredit?

UniCredit is a bank transfer payment method that enables customers to pay online using their own bank account. There’s no credit card needed to complete the transaction in an online store. The primary advantage of this payment method is that customers don’t need to manually rewrite data or order transfers. All they need to do is log into their bank account and authorize a predefined transfer order generated by clicking a payment link at checkout.

UniCredit enables online shoppers to pay for goods and services using online bank transfers, as well as a range of other payment methods. Merchants benefit from guaranteed payment and swift settlement with UniCredit.

How does UniCredit work?

When customers make a purchase at an online store, they go through the checkout process and can choose the payment method for completing it. If they pick UniCredit as their payment method, they’re redirected to the bank’s website, where they can log into their bank accounts to make an instant transfer. There is no need to rewrite data or make manual transfer orders. 

After authorization by the customer, the merchant receives the funds immediately, so order preparation and shipping can start sooner. This is especially important for merchants who depend on reliable cash flow and who need to ship inventory quickly and efficiently.

Why do merchants and consumers use UniCredit?

Instant bank transfers are particularly popular with e-commerce customers across Central and Eastern Europe. 

UniCredit offers a fast and secure checkout experience, where customers can confirm a predefined transfer form to complete transactions. This option streamlines the customer experience for e-commerce businesses and provides local customers with an online payment option that is both smooth and hassle-free. Customers do not need to open new accounts or remember passwords; they can use their existing bank account and internet banking service.

By accepting UniCredit online bank transfers as a payment method in the checkout process, merchants combine the convenience of accepting instant bank transfers while at the same time maintaining robust security and providing local customers with a payment method they recognize and trust.

How can merchants start accepting UniCredit?

Implementing the UniCredit payment method is easy for merchants who choose a payment gateway that covers this important local payment option. Payment service providers like PayU offer access to UniCredit and other critical local payment methods to help merchants provide the best possible checkout experience and increase e-commerce conversions.