More Swiss banks join Paymit ahead of high street expansion

More Swiss banks join Paymit ahead of high street expansion

Paymit, the mobile-to-mobile payment app developed by UBS, Zurcher Kantonalbank, Swisscom and SIX has recruited an additional three banks ahead of a planned February roll out to retailer eftpos terminals.

Following UBS, Zürcher Kantonalbank, Luzerner Kantonalbank, Banque Cantonale de Genève, Banque Cantonale Vaudoise and Raiffeisen, the Obwalden, St. Gallen and Zug cantonal banks have now signed up to the service, which has so far attracted 170,000 downloads since launch in May last year.

Alongside Raiffeisen and the Geneva cantonal bank, the new recruits will onboard using Swisscom's 'Paymit-as-a-service' package, a white-laballed point of access to the Paymit ecosystem.

Following the successful establishment of payments between individuals (P2P) and to charitable organisations, the consortium partners says Paymit will soon be extended to cover retailer expenditure, including on the high street, online and in-app. The first high street establishments will go live on the service next month, with in-app and online functionality following in second quarter.

Comments: (1)

A Finextra member
A Finextra member 21 January, 2016, 15:26Be the first to give this comment the thumbs up 0 likes

Would be good to know what the service is and how it works, isn't it?..