Twint to launch direct debit from 2027
The Twint payment app is set to introduce direct debit from 2027.
The new service is supported by Switzerland’s largest banks and is intended to offer an alternative to the traditional LSV+ direct debit scheme, which is due to be phased out at the end of September 2028.
With Twint Direct Debit, users can set up, manage and view recurring payments – such as for health insurance, subscriptions or electricity bills – directly within the Twint app, the company announced on Tuesday. This would do away with paper forms and “cumbersome processes”.
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Direct debit also brings benefits for merchants and billers: processing recurring payments via the Twint app is expected to reduce administrative workload and mean “fewer bills are forgotten”.
According to its own figures, Twint is Switzerland’s leading payment app with over six million active users. It is owned by the banks BCV, PostFinance, Raiffeisen, UBS and ZKB, as well as SIX and Worldline.
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