Question 1

What is UNICRE?

Accepted Answer

UNICRE is a Portuguese financial credit institution specializing in payment solutions, credit cards, and consumer credit services. Operating through two primary brands, UNIBANCO (credit cards, prepaid cards, meal cards, and personal credit) and REDUNIQ (payment acceptance solutions for physical and online commerce), UNICRE is recognized as the largest payment acquirer operating in Portugal. Founded in 1974, the institution has established itself as a pioneer in financial innovation within the Portuguese market, serving both individual consumers and businesses with 50 years of industry experience.

Question 2

When was UNICRE founded?

Accepted Answer

UNICRE was founded on April 17, 1974, in Lisbon, Portugal, with an initial capital of 18,000 contos. The founding shareholders included major Portuguese banks: Totta & Açores, Borges e Irmão, Espírito Santo, Fonsecas e Burnay, Nacional Ultramarino, and Português do Atlântico.

In the same year of its founding, UNICRE issued Portugal's first UNIBANCO credit cards under the MasterCharge/Interbank brand. The institution underwent a significant transformation in 2005 when it officially changed its name to "UNICRE Instituição Financeira de Crédito, S.A." and converted to a credit institution (IFIC) under Portuguese financial regulations, increasing its share capital to €10 million.

Question 3

Where is UNICRE headquartered?

Accepted Answer

UNICRE is headquartered in Lisbon, Portugal, at Avenida António Augusto de Aguiar. The institution maintains additional offices in Porto, Faro, Madeira, and the Azores.

Question 4

Where does UNICRE operate?

Accepted Answer

UNICRE operates throughout Portugal with offices strategically located across the mainland and island regions. The institution's REDUNIQ payment network provides nationwide coverage for merchant payment acceptance services, while UNIBANCO credit services are available to consumers across all Portuguese regions. UNICRE's payment terminals and digital solutions serve businesses in both physical retail locations and e-commerce throughout Portugal.

Question 5

What services does UNICRE offer?

Accepted Answer

UNICRE offers a comprehensive suite of financial services divided between its two main brands. Through UNIBANCO, customers access credit cards (including sustainable and eco-friendly options), prepaid cards, rechargeable virtual cards, meal vouchers, personal loans, and consolidated credit. The fully digital UNIBANCO Account launched in 2021 enables 100% digital account management through mobile applications.

The REDUNIQ brand provides payment acceptance solutions including electronic payment terminals (EPT), contactless payment technology, Android-based Smart terminals, smartphone and tablet payment applications (REDUNIQ Soft), and e-commerce payment integration. REDUNIQ Insights delivers retail analytics to business customers. UNICRE also pioneered online payment solutions in Portugal with the UNIBANCO Net Net card in 2000.

Digital services include comprehensive online banking, mobile wallet integration, and in 2023 processed over 27 billion euros in transactions through the REDUNIQ network. The institution supports UnionPay card acceptance and offers dynamic currency conversion services for international transactions.

Question 6

What makes UNICRE unique?

Accepted Answer

UNICRE holds the distinction of issuing Portugal's first credit card in 1974 and establishing the country's first payment acceptance network. The institution launched Europe's first Distribution Card Visa system in 2007 and introduced the world's first eco-friendly credit card (Unibanco Atitude) in 2009.

UNICRE pioneered contactless payment technology acceptance in Portugal in 2010 and created Portugal's first fully cashless brewery payment system in 2016. The institution's commitment to social responsibility is demonstrated through the UNIBANCO Alegria charity card program, which has raised over €50,000 for Fundação do Gil, supporting children and youth in clinical and social risk. UNICRE maintains its position as Portugal's largest payment acquirer with extensive market penetration.

In 2011, the company completed its first brand image renewal in 37 years, reflecting its continued evolution in a rapidly changing financial technology landscape.

Question 7

What type of financial institution is UNICRE?

Accepted Answer

UNICRE is a credit institution (Instituição Financeira de Crédito - IFIC) regulated under Portuguese law and supervised by Banco de Portugal. As a specialized financial credit institution, UNICRE operates with a focused mandate on payment systems, credit cards, and consumer lending rather than as a full universal bank.

The institution does not participate in deposit guarantee schemes (designated as NA_NODGS), as it is not authorized to accept traditional retail deposits. This classification aligns with its specialized role in payment processing, credit card issuance, and consumer credit origination within the Portuguese financial system.

UNICRE

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About UNICRE in Portugal