The smartphone has now established itself as a means of payment. TWINT is observing an ever-growing number of users who make use of the system in a wide range of situations and no longer in just one and the same scenario, for example when paying for their shopping at supermarket cash registers. In addition to the variety of potential uses, the payment app also offers its users the option of not having to use cash at all. This is because – unlike making payments with cards or other mobile payment systems – TWINT can also be used without the need for an electronic payment terminal (e.g. via a QR code in farm shops). In this way, TWINT has quadrupled the number of transactions made over the past year to over 5 million per month.
‘We are clearly focused on offering TWINT users as many ways in which to use the app as possible and are thus facilitating the complete replacement of cash by ensuring that TWINT can be used in all payment situations in our daily lives’, explains TWINT CEO Markus Kilb, before continuing: ‘We therefore want to reach the 100 million transactions milestone this year and make sure that TWINT completely replaces purses and wallets as well as other means of payment. In 2020, we want to show that we are able to deal with all of the payment situations that are key for our customers’.
In fact, TWINT can currently be used in the traditional payment situations in practically every retail store, in most online shops and for the immediate transferring of money to other persons, as well as in many other daily transaction situations. TWINT is also the leading payment solution in the mobility sector and allows for payments to be made with the SBB, BLS, many private railway networks, Fairtiq, TCS and the largest provider of electric charging stations. What’s more, TWINT can already be used to pay for the use of more than 100,000 parking spaces in Switzerland, thus negating the need to have cash.
Since the end of 2019, users have been able to make donations directly from their TWINT app without having to scan a QR code first and can order a donation receipt simply via a drop-down menu.
In addition to the payment of invoices via QR code, there are further new potential uses planned to be launched in 2020. For example, we plan to offer the option of being able to record the total spending of a group within the TWINT app so that it can be split between individual group members later on. Users will also be able to make purchases directly from the TWINT app in 2020 so that vouchers and credit codes can be purchased digitally.
And despite the fact that the average Swiss person makes almost 97% of their transactions within Switzerland, TWINT is currently also developing a cross-border payment option in its capacity as a founding member of the European Mobile Payment Systems Association (EMPSA).
TWINT Media Department
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