Source: Credit Suisse
From mid-August 2020, credit card clients of Credit Suisse in Switzerland will be able to use Google Pay in addition to existing mobile payment options.
Thanks to the expansion of the offering to include Google Pay, Credit Suisse clients can now make full use of another major international payment solution - with both prepaid and credit cards.
Google Pay is one of the most popular payment systems in the world and is being added to Credit Suisse's existing international mobile payment offering and online payment solutions. From mid-August 2020, Credit Suisse will offer Google Pay to its private clients with a Mastercard or Visa credit card issued by Swisscard. Since Google Pay was launched in the Swiss market in April 2019, it has been available for use with Credit Suisse prepaid cards issued by Swiss Bankers. This makes Credit Suisse one of the first Swiss banks to offer the widest possible range of mobile payment options.
Record growth in mobile payments - accelerated by the COVID-19 pandemic
The volume of mobile payments is growing rapidly. Over the last 12 months, the proportion of contactless card payments in Switzerland has more than doubled, while cash withdrawals from ATMs have declined. This proportion of contactless card payments is likely to continue rising sharply compared to cash payments, not least because of the pandemic. Since the outbreak of COVID-19, growing numbers of consumers have switched to making contactless payments. Easy, swift and secure payments by smartphone or smartwatch eliminate the need for physical contact with cash, cards and payment terminals. By expanding its product offering, Credit Suisse is responding to the changing needs of clients and providing them with an even wider range of mobile payment solutions that can also be used outside Switzerland.
Anke Bridge Haux, Head of Digitalization & Products at Credit Suisse Switzerland, stated: "We are seeing a change in needs relating to private payment transactions. People want the greatest possible flexibility when choosing their preferred method of payment. Our clients want to decide individually which method they use, and when and where they use it. We are now providing them with another popular alternative in the form of Google Pay."
An Android smartphone (Android version 5.0 or higher) with near-field communication (NFC) capabilities is required to use Google Pay online, in apps, or in stores and restaurants.