Swiss banks and SIX plan national mobile payments platform
Exchange group SIX and Switzerland’s five largest banks are in talks over a joint mobile payments platform for the country.
SIX, retail chains Migros and Coop, and telecoms company Swisscom are planning to create a standardised digital payment system for consumers in Switzerland.
A joint statement from the banks – UBS, Credit Suisse, Raiffeisen, PostFinance and Zürcher Kantonalbank – says it should produce preliminary results by early May and for the platform to be open to other partners.
Partnerships in the alpine nation are not new.
Last year SIX and Swisscom started plans to target retail payments via the mobile app Paymit.
This is a Switzerland-wide, universal mobile payment solution in collaboration with banks, such as UBS, Zürcher Kantonalbank, Banque Cantonale de Genève, Banque Cantonale Vaudoise, Luzerner Kantonalbank and Raiffeisen.
The plan encompasses shopping as well as peer-to-peer payments.