Transactions in high street shops have almost doubled compared to the previous year (+84 percent), Twint said in a media release on Monday. The vast majority of these happen at the supermarket checkout.
Twint is accepted as a payment method by 77% of bricks and mortar shops and 76% of online shops in Switzerland. And the payment system now has “well over five million” active users.
All in all, 72% of payments with Twint took place in retail, while 28% of transactions are money transfers between private individuals.
For 2024, Twint plans to further promote its use in physical retail. This means that rummaging around for loyalty cards like Cumulus and Supercard should finally be a thing of the past. In more and more versions of the app, the customer card can be stored and presented directly during the payment process.
Twint also wants to speed up payment at the checkout. In the future, users should be able to pay directly from the home screen or even from the lock screen of their smartphone. This eliminates the sometimes tedious task of unlocking the device.
But only iPhone owners can look forward to this gadget: the so-called widgets (mini applications) will be gradually introduced for iOS smartphones over the course of the year.
More
More
CHF1,000 notes account for half of all Swiss cash
This content was published on
More than half of all Swiss cash in circulation, almost CHF50 billion, is held in CHF1,000 notes.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
Popular Stories
More
Banking & Fintech
UBS releases ‘hundreds’ of staff in fresh wave of job cuts
Should Switzerland take measures to support its struggling industries?
Industrial policies are back in fashion, not only in the United States but also in the EU. Should Switzerland, where various industries are struggling, draw inspiration from such policies?
UBS has cut 10,000 jobs since Credit Suisse takeover in 2023
This content was published on
UBS Group has cut more than 10,000 roles since it bought Credit Suisse, marking a milestone in the lender’s efforts to integrate its former rival.
Swiss multinational SGS to move HQ from Geneva to Zug
This content was published on
The Swiss multinational SGS, the world’s leading testing, inspection and certification company, plans to move its headquarters from Geneva to canton Zug in central Switzerland.
Swiss army takes part in international tank competition
This content was published on
Around 20 Swiss army personnel and two Leopard 2 tanks are taking part in an international tank competition in Grafenwöhr, Germany, this week.
Omega-3 supplements seem to slow ageing process, Swiss study finds
This content was published on
Taking a daily omega-3 supplement appears to slow down the rate of biological ageing by up to four months, according to a study by researchers at the University of Zurich.
This content was published on
The Swiss writer and translator Alain Claude Sulzer has been awarded the Solothurn Literary Days Prize 2025 for his lifetime's work.
Prix de Lausanne features 85 dancers from 23 countries
This content was published on
The 53rd Prix de Lausanne international ballet competition is underway. A total of 85 young dancers from 23 countries are competing in the Swiss city.
Swiss Solidarity charity collected CHF34 million in 2024
This content was published on
Swiss Solidarity, the humanitarian arm of the Swiss Broadcasting Corporation (SBC), raised CHF34.4 million ($37.7 million) in donations in 2024 and spent CHF63 million on humanitarian projects.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.