SIX and Swisscom To Join Forces with Swiss Banks to Establish Universal Mobile Payment Solution

SIX and Swisscom To Join Forces with Swiss Banks to Establish Universal Mobile Payment Solution
05.08.2015 01:00 am

SIX and Swisscom To Join Forces with Swiss Banks to Establish Universal Mobile Payment Solution

Payments

SIX and Swisscom are working towards a strategic partnership to establish a Switzerlandwide, universal mobile payment solution in collaboration with banks. The basis for this partnership has been established in May 2015 when SIX, UBS and Zürcher Kantonalbank launched the Paymit payment solution. Paymit will now enter the next phase with the expansion to retail and commerce segments. SIX and Swisscom are confident that this will generate added value for customers and business. Both companies also aim to develop state-of-the-art services to transform the customer shopping experience. 

Paymit is at the heart of a strategic partnership between SIX and Swisscom. The app currently allows customers to send and receive money via their smartphones, and will also offer them the opportunity to make cashless payments in stores or online. The amount is booked in real time via the app and the registered account or credit card. In the future, Paymit will offer additional services such as loyalty point schemes or the creation of individually tailored offers for customers. Companies and customers alike will benefit from a comprehensive payment and customer interaction solution, first special offers are scheduled for release as early as the beginning of 2016. 

Working together with banks to accelerate the uptake of Paymit 

For SIX and the participating banks, such as UBS, Zürcher Kantonalbank, Banque Cantonale de Genève, Banque Cantonale Vaudoise, Luzerner Kantonalbank and Raiffeisen, the main benefit of the planned collaboration with Swisscom is that Paymit will spread more rapidly in the Swiss market. Swisscom will ensure that smaller banks too will be able to get connected to Paymit. “We believe in the Swiss financial centre and want to create a Swiss solution that can act as a counterweight to international players,” explains Swisscom CEO Urs Schaeppi. By quickly establishing the app in the market and providing a customer interaction solution, Paymit will become an even more attractive option for businesses and customers alike: “We are confident that the partnership between SIX and Swisscom will help establish Paymit as a mobile payment solution. The key objective for SIX is that all Paymit users and the participating banks benefit equally,” says SIX Group CEO Urs Rüegsegger. 

Customers and business set to benefit 

Swisscom will press ahead with the development of supplementary services enhancing the shopping experience. For example, customers will be able to collect loyalty points for their purchases that they can then use for their next shopping trip, and retail companies will be able to provide their customers with information on products and special offers. “Digitisation opens up numerous opportunities to improve the customers’ shopping experience. And thanks to Paymit, it will be even easier for businesses to take advantage of these new possibilities,” says Swisscom CEO Urs Schaeppi. 

Related News

PayNearby announces partnership with Sub-K Impact Solutions; enables access to loan repayment options through its retail network

India’s largest agent banking platform, PayNearby is happy to formally announce its partnership with Sub-K Impact Solutions Ltd (Sub-K), a leading player facilitating loans,... Read more »

Banking Circle secures five finalist places at 2020 Emerging Payments Awards

Banking Circle, the financial infrastructure provider to Payments businesses and Banks has secured 5 finalist slots in the 2020 Emerging Payments Awards.... Read more »

Starling, TranSwap and Remitr among first wave to sign up to Currencycloud Spark

New solution provides global multi-currency accounts to Fintechs and FIs

Read more »

Tinkoff launches charitable scheme ‘Cashback to Give Back’

Tinkoff is happy to announce the launch of its new charitable scheme Cashback to Give Back. The aim of the project is to help get... Read more »

PPRO announces 85% volume growth despite pandemic, accelerates plans with new investment from Sprints and Citi

PPRO, the world’s leading local payments platform-as-a-service, reports today an 85% increase in transaction volume from last year, highlighting the... Read more »

Absa ARO Completes Fully Virtual Implementation as It Moves to Fiserv for Card Management and Processing Across Nine African Nations

Fiserv, Inc. (NASDAQ: FISV) a leading global provider of payments and financial services technology, today announced that... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel