Good to know

We do not keep you in the dark. You can find the answers to the most frequently asked questions here.

The merger in general

The owners of Paymit and TWINT, along with retailers, decided that it made more sense to have a single Swiss standard for mobile payments than several discrete individual solutions.

The pilot phase starts in autumn 2016, with the rollout set for early 2017. Until then, TWINT and Paymit will still be available and you will be able to use them as normal.

  • Users, especially, will benefit from the single payment solution – but retailers will too.
  • It will bring them significantly more customers for mobile payments and they will be able to rely on a broad-based Swiss solution that offers a correspondingly high degree of investment protection.
  • Extensive value-added services such as mobile coupons, the option of saving customer cards and 'Order & Pick up' offer advantages for both retailers and customers.
  • Users will find that their ability to pay online and via apps is widely accepted in shops.
  • Sending and receiving payments between individuals is another major advantage, and one with a tangible network effect.

The shares in TWINT AG are held by SIX, PostFinance, UBS, Raiffeisen, Credit Suisse, ZKB and BCV.

TWINT AG will be responsible for developing and operating the technical solution, setting rules for the system and marketing the umbrella brand. The partner banks will act as issuers, providing the solution to their customers. SIX will be on board as the first acquirer and will take on payment processing duties. Swisscom will be the technical partner, supporting the issuing banks. The TWINT acquiring system is designed as an open solution, meaning that any bank or credit card provider can join it as an issuer and offer it to other companies.

TWINT. The existing profile and image will be adapted and rolled out together with the new solution.

  • TWINT is the Swiss solution that links a user‘s app directly to their bank account. TWINT can be used like a debit card, the most popular form of payment in Switzerland. It will also be possible to save a credit card.
  • TWINT can be used where cashless payments have never been an option or, at best, a very laborious one – such as between individuals, at machines or at retailers that have never accepted anything but cash.
  • TWINT allows payment via e-commerce and mobile apps.
  • TWINT provides customers and retailers with value-added services that can be directly integrated into the payment process. These include mobile coupons, stamp cards, the ability to save customer cards, and \'Order & Pick up\'.

The new solution in general

  • Maximum customer acceptance, because all consumers in Switzerland can use TWINT – regardless of what make of smartphone they use or where they bank.
  • Competitive costs, because it is a Swiss-wide standard for everyone. This will cut investment expenses, reduce the outlay required for training and avoid confusion at the POS, making things simpler and more economical.
  • In particular, as well as the TWINT Beacons, existing payment terminals can also be integrated into the system. This will enable a high degree of market penetration to be achieved quickly.
  • The value-added services such as mobile coupons and stamp cards will allow retailers to increase sales by opening up some efficient marketing opportunities.
  • Additional functions such as 'Order & Pick up' and the option to save customer cards will speed up and simplify the process.
  • Small and medium-sized retailers as well as service companies will also be able to join the system without having to make any major investments.

The contracts relating to the old TWINT and Paymit systems will be transferred to the new one and will remain in force in accordance with the contractual agreements made. Pricing will be the responsibility of the relevant acquirer in future.

Nothing will change as far as you are concerned. As you are currently a Paymit customer, you will keep your contractual relationship with SIX. As you are currently a TWINT customer, you will keep your contractual relationship with TWINT, which is set to be transferred to the new company TWINT Acquiring AG (a wholly owned subsidiary of TWINT AG) over the next few months.

That depends on which functions you want to introduce and when. As a basic principle, you can already register with SIX or TWINT, in which case you will be migrated to the new solution automatically in early 2017. All TWINT and former Paymit customers will be able to make payments to you from that point on.

You will only be offering TWINT from then on. You can decide whether you want to do so via SIX or TWINT or via another acquirer that has joined TWINT.

You will be migrated to TWINT automatically when the new solution launches. You will be notified in good time if you need to do anything. However, the migration is intended to take up as little time and effort as possible for all concerned.

There is no need to cancel. Contracts will be migrated automatically so you do not need to do anything in that regard.

Yes, a retailer app like this one will continue to exist.

No. As a retailer, you do not need to do anything. The forthcoming TWINT system will incorporate all the existing TWINT acceptance solutions. Upgrades to cash register software may be required in some cases. This will be tackled by TWINT directly, liaising with the relevant manufacturers.

You will be told in good time about when exactly the new solution will be available to you.

You can cancel your existing contract with TWINT or Paymit in accordance with the general terms and conditions of business or the terms and conditions of participation.

Functions available in the new solution

The pilot phase starts in autumn 2016, with the Swiss-wide rollout set for early 2017. From this point on, the following solutions are set to be available at shop cash registers:

  • Payment terminal with QR code
  • Beacon with Bluetooth technology
  • Retailer app with QR code

Yes, this payment option will be available.

Yes, this payment option will be available.

Yes. TWINT can already be used to make e-commerce payments using a QR code. It can be integrated via a shop plug-in or payment service provider.

Paymit and TWINT already let you offer in-app payments. The new solution will also have this functionality.

Yes. The Bluetooth technology in the Beacons lets you make payments even if your smartphone has no signal.

No. TWINT can currently only be used in Switzerland.

Transitional period

No. Nothing will change as far as you are concerned until further notice. You will be notified in good time if there is anything you need to do.

You can continue to use your current solution as normal and will then be migrated to the new one automatically.

No. You can already sign up for the solution that suits you best. You will then be migrated to the new solution automatically.

The two current brands will continue to exist until the new solution is rolled out. It will be given a new logo when it launches in early 2017 under the TWINT name.

The merger in general

The owners of Paymit and TWINT, along with retailers, decided that it made more sense to have a single Swiss standard for mobile payments than several discrete individual solutions.

The pilot phase starts in autumn 2016, with the rollout set for early 2017. Until then, TWINT and Paymit will still be available and you will be able to use them as normal.

  • Users, especially, will benefit from the single payment solution – but retailers will too.
  • It will bring them significantly more customers for mobile payments and they will be able to rely on a broad-based Swiss solution that offers a correspondingly high degree of investment protection.
  • Extensive value-added services such as mobile coupons, the option of saving customer cards and 'Order & Pick up' offer advantages for both retailers and customers.
  • Users will find that their ability to pay online and via apps is widely accepted in shops.
  • Sending and receiving payments between individuals is another major advantage, and one with a tangible network effect.

The shares in TWINT AG are held by SIX, PostFinance, UBS, Raiffeisen, Credit Suisse, ZKB and BCV.

TWINT AG will be responsible for developing and operating the technical solution, setting rules for the system and marketing the umbrella brand. The partner banks will act as issuers, providing the solution to their customers. SIX will be on board as the first acquirer and will take on payment processing duties. Swisscom will be the technical partner, supporting the issuing banks. The TWINT acquiring system is designed as an open solution, meaning that any bank or credit card provider can join it as an issuer and offer it to other companies.

TWINT. The existing profile and image will be adapted and rolled out together with the new solution.

  • TWINT is the Swiss solution that links a user's app directly to their bank account. TWINT can be used like a debit card, the most popular form of payment in Switzerland. It will also be possible to save a credit card.
  • TWINT can be used where cashless payments have never been an option or, at best, a very laborious one – such as between individuals, at machines or at retailers that have never accepted anything but cash.
  • TWINT allows payment via e-commerce and mobile apps.
  • TWINT provides customers and retailers with value-added services that can be directly integrated into the payment process. These include mobile coupons, stamp cards, the ability to save customer cards, and 'Order & Pick up‘.

The new solution in general

  • You will get a mobile payment solution that will be accepted virtually anywhere: at many retailers, at machines, in e-commerce, in apps and between individuals – in other words, also in those situations where cashless payments have not been an option or, at best, a very laborious one.
  • The new payment solution can be linked to a bank account or credit card.
  • Value-added services are planned for the new solution, including stamp cards, promotional discounts and the option of integrating customer cards.
  • TWINT also lets you make cashless payments in those situations where they have never been an option or, at best, a very laborious one. All you need is your smartphone.
  • You do not have to enter any of your details, which makes it a much more convenient method particularly in e-commerce.
  • You can save customer cards and employee or student IDs and thus benefit automatically from the perks you are entitled to during the payment process.
  • TWINT also offers extra added value in the form of digital stamp cards and coupons.
  • Accurate payments down to the last centime without the need to handle any cash or count any change.

The costs for the app will be determined by the respective issuer, i.e. the banks or credit card companies that will be offering a TWINT app.

TWINT will save the information required to process payments.

Your bank, TWINT and the party processing your transaction will have access to your details to the extent required to process the transaction.

Consumers can 'opt in' to benefit from the value-added services on offer. If they do, their details will be analysed in accordance with data protection regulations. TWINT will not pass any information on to third parties without the customer's consent.

We will be notifying you in good time about the exact procedure and the implementation details.

We will be notifying you in good time about the exact procedure and the implementation details.

Functions available in the new solution

Yes. The new solution will retain the functions currently available, i.e.:

  • QR codes at payment terminals
  • Beacon with Bluetooth technology
  • E-commerce payments
  • In-app payments
  • Payments between individuals
  • QR codes at payment terminals
  • Beacon with Bluetooth technology
  • E-commerce payments
  • In-app payments
  • Payments between individuals Customer cards and employee and student IDs can be saved in the app and will be integrated into the payment process automatically, enabling customers to benefit from the perks they are entitled to without having to lift a finger.
  • Customers can also choose to receive coupons offering them deals at retailers that have signed up for this TWINT service. Customers who are interested in one of these deals can activate the coupon and benefit automatically the next time they make a payment.
  • The 'Order & Pick up' function allows customers to order and pay for a coffee or lunch, say, while on the go. They then collect it from the retailer exactly when they want, without having to wait or pay in store.

Although there are plans to introduce this functionality some time in 2017, it will not yet be available when the solution is rolled out.

TWINT is designed as an open solution. The biggest Swiss banks will offer it, as will many small and medium-sized ones. There will also be a TWINT app not tied to any particular bank that will also make TWINT available to customers whose bank does not offer a TWINT app.

Yes. This will be possible provided that each bank offers a TWINT app.

At points of sale, in e-commerce, in apps and at a growing number of retailers in Switzerland – there will already be several tens of thousands of points of acceptance when the new solution launches.

Yes. This is planned in principle but will not yet be available by the time the solution is rolled out. It will be up to the bank issuing the relevant app to decide how an account can actually be topped up.

Yes. This is planned in principle but will not yet be available by the time the solution is rolled out. It will be up to the bank issuing the relevant app to decide how an account can actually be topped up.

  • Customer cards and employee and student IDs can be saved in the app and will be integrated into the payment process automatically, enabling customers to benefit from the perks they are entitled to without having to lift a finger.
  • Customers can also choose to receive coupons offering them deals at retailers that have signed up for this TWINT service. Customers that are interested in one of these deals can activate the coupon and benefit automatically the next time they make a payment.
  • The 'Order & Pick up' function allows customers to order and pay for a coffee or lunch, say, while on the go. They then pick it up from the retailer exactly when they want, without having to wait or pay in store.

Transitional period

No. You will be migrated to the new solution as soon as it has been rolled out, regardless of whether you currently use Paymit or TWINT.

This will not be possible until the new solution is launched as the two systems work with separate technology. Money will be able to be sent and received between all the new TWINT apps once the single solution has been rolled out.

The pilot phase for the new TWINT app starts in autumn, with the roll-out scheduled for early 2017. The aim is to migrate all apps as quickly as possible.

This will not be possible until the new solution is rolled out. People who currently use Paymit will be able to pay with TWINT once the relevant Paymit app has been migrated to the TWINT system. You can find a list of the current points of acceptance here:

Yes, once the new solution has been rolled out. Retailers that currently take Paymit will be migrated to TWINT at that point. The two systems will continue to run separately until then.

Do you have any further questions?

If so, do not hesitate to contact us right away. We would be delighted to help you.

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