Swiss banks join SIX and Swisscom to push mobile payments to the high street

Swiss banks join SIX and Swisscom to push mobile payments to the high street

SIX and Swisscom are collaborating with Swiss banks to introduce a universal mobile payment service for online and offline transactions nationwide.

The first steps were taken in May, when SIX, UBS and Zürcher Kantonalbank launched the mobile-to-mobile payment service Paymit.

SIX and Swisscom say that Paymit will now enter the next phase with the expansion to retail and commerce segments and the onboarding of new banks, including Banque Cantonale de Genève, Banque Cantonale Vaudoise, Luzerner Kantonalbank and Raiffeisen.

It is envisaged that the real-time apyment app will also be extended to offer additional services such as loyalty point schemes or the creation of individually tailored offers for customers, with the first special offers scheduled for release by early 2016.

The recent launch of Apple Pay in the UK and forthcoming debuts of similar services from Samsung and Google has galvanised the Swiss banking community in the roll out of a home-grown service.

“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.

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