The TWINT digital payment system claimed more than 6 million users and users at the end of the first half. The latter made 773 million transactions in 2024, a leap of 31% over a year.
This growth highlights the request for mobile payment services and in particular for cash purchases, a statement said on Tuesday. Supporting this expansion, around 81% of stores accept this means of payment and 84% of online stores do the same.
About 75% of transactions are commercial (with a major present face), while one in four transaction is made between individuals.
Property of several banks
Property of the Cantonal Banks Vaudoise and Zurich, Postfinance, Raiffeisen, UBS, Six and Worldline, the company was founded in 2016.
At the beginning of July, the Association of SWISS Retail Federation retailers filed a complaint with the Competition Commission (COMCO) against Twint, accusing it “of abusing its market position by taking excessive costs”.
>> Read also: Complaint against Twint, accused of leaving excessive fees by retailers
ats/ebz
