The Swiss voice in the world since 1935

Financial institutions raided over mobile pay deals

Paying with Samsung Pay
Swiss institutions are adapting to an increasingly cashless society Keystone

The Swiss Competition Commission has searched the premises of Credit Suisse and UBS, PostFinance and the credit card companies Swisscard and Aduno for allegedly boycotting mobile payment methods such as Apple Pay and Samsung Pay. 

The Competition CommissionExternal link said on Thursday it had opened an investigation on Tuesday. 

The Swiss financial institutions are suspected of agreeing among themselves not to authorise their credit cards for use with Apple Pay and Samsung Pay, in order to favour the Swiss payment method TWINT. 

PostFinance, the banking arm of the state-run Post Office, said it was cooperating with the competition watchdog to clarify the facts. PostFinance said it was convinced it had not violated Swiss antitrust laws. 

For its part, Credit Suisse said it was convinced the allegations would prove unfounded. “We already offer consumers in Switzerland access to Apple Pay and Samsung Pay through our 50%-owned subsidiary Swisscard,” it said.

More

More

Head to head: Apple Pay vs Twint

This content was published on This year’s launch of Apple Pay in Switzerland is expected to set up a showdown with local rival Twint.

Read more: Head to head: Apple Pay vs Twint
​​​​​​​

Popular Stories

Most Discussed

News

More Russian assets frozen in Switzerland

More

More Russian assets frozen in Switzerland

This content was published on The value of frozen Russian assets in Switzerland currently stands at CHF 7.4 billion, the Swiss Confederation announced on Tuesday. This represents an increase of CHF 1.6 billion in one year. Additional assets have been identified, according to the State Secretariat for Economic Affairs.

Read more: More Russian assets frozen in Switzerland
Increase in business start-ups in the 1st quarter

More

Increase in Swiss business start-ups in Q1

This content was published on The number of business start-ups in Switzerland accelerated in the first three months of the year, with entrepreneurs being particularly dynamic in Central Switzerland, Basel and Geneva.

Read more: Increase in Swiss business start-ups in Q1
Swiss and French armies train together

More

Swiss and French armies train together

This content was published on French and Swiss armoured and artillery units will train together to strengthen the defence capabilities of the Swiss army.

Read more: Swiss and French armies train together

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

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.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR