Transactions in high street shops have almost doubled compared to the previous year (+84 percent), Twint said in a media release on Monday. The vast majority of these happen at the supermarket checkout.
Twint is accepted as a payment method by 77% of bricks and mortar shops and 76% of online shops in Switzerland. And the payment system now has “well over five million” active users.
All in all, 72% of payments with Twint took place in retail, while 28% of transactions are money transfers between private individuals.
For 2024, Twint plans to further promote its use in physical retail. This means that rummaging around for loyalty cards like Cumulus and Supercard should finally be a thing of the past. In more and more versions of the app, the customer card can be stored and presented directly during the payment process.
Twint also wants to speed up payment at the checkout. In the future, users should be able to pay directly from the home screen or even from the lock screen of their smartphone. This eliminates the sometimes tedious task of unlocking the device.
But only iPhone owners can look forward to this gadget: the so-called widgets (mini applications) will be gradually introduced for iOS smartphones over the course of the year.
More
More
CHF1,000 notes account for half of all Swiss cash
This content was published on
More than half of all Swiss cash in circulation, almost CHF50 billion, is held in CHF1,000 notes.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
One person consumes 4.8 megawatt hours of electricity
This content was published on
On average, the Swiss consume 4.8 megawatt hours of electricity per year. According to Velobiz.de, this is roughly equivalent to the amount generated by all 176 cyclists in the Tour de France during the entire race.
Outgoing ICRC chief in Ukraine defends neutrality amid war
This content was published on
Swiss national Jürg Eglin, outgoing head of the International Committee of the Red Cross in Ukraine, reflects on his tenure.
Green party leader criticises government’s neo-liberal policy
This content was published on
The Green Party delegates' meeting opened on Saturday morning in Vicques (JU) with a speech by party president Lisa Mazzone. Mazzone took particular aim at the Federal Council's policy towards the United States.
Working on Sundays is detrimental to well-being, says Swiss study
This content was published on
A study by the University of Bern shows that working on Sundays is detrimental to well-being and particularly affects women.
Safra Sarasin private bank and former asset manager sentenced
This content was published on
The Office of the Attorney General of Switzerland has fined private bank J. Safra Sarasin CHF3.5 million for aggravated money laundering. A former bank employee received a six-month suspended prison sentence.
JPMorgan to pay CHF270 million to settle 1MDB claims
This content was published on
JPMorgan Chase has agreed to pay CHF270 million to the Malaysian government to settle all issues related to its role in the 1MDB financial scandal.
Famine confirmed in Gaza for first time, says UN-backed report
This content was published on
Famine has been declared in a northern part of the Gaza Strip, according to the Integrated Food Security Phase Classification (IPC) system.
Zurich Airport ground handling staff to strike on Friday
This content was published on
Ground handling staff at Zurich Airport have announced a strike for Friday afternoon. According to a union, 200 jobs are at risk.
This content was published on
Philippe Lazzarini will step down as head of the United Nations Relief and Works Agency for Palestinian Refugees (UNRWA) at the end of his term in March, he announced on Thursday.
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.