TWINT is meeting the increasing demand for being able to make digital, mobile and contactless payments with a smartphone. The pronounced growth in customer numbers enjoyed since last year has been fuelled by the increase in demand for hygienic payment methods following the outbreak of COVID-19. It is now clear that the new way of making payments is having a long-term impact on the shopping habits of the Swiss population and TWINT is on track to become the most popular payment method in Switzerland.
Most popular payment method among students
Half of the smartphone owners in Switzerland now use the TWINT app and make payments with TWINT in 50% of Swiss online shops. According to an IPSOS study, TWINT enjoys top-of-mind awareness among the population. No other payment methods are named spontaneously as frequently as TWINT, with the company being the first payment method to come to mind in 43% of the Swiss population, in 56% of under 34 year olds and in 61% of students. The majority of the Swiss people questioned intend to use TWINT even more frequently in the future.
An ever-increasing number of companies are offering TWINT as a payment method
The acceleration in the growth enjoyed by TWINT also continued into the summer months, with three million people now using the TWINT app as of October 2020. 'With this growth, TWINT will be recording transaction figures at the same level as for credit card payments in the coming year,' said Markus Kilb, CEO of TWINT, at the media event in Zurich. Customers also 'twint' money to their friends and family (person-to-person), for example to split restaurant bills or to collect money for a gift. A great many people primarily use TWINT to pay for their purchases in both traditional retail stores (POS) and online shops. These commercial payments (person-to-merchant) currently make up the majority – around 60% – of the transactions carried out via the app. Thanks to this positive performance, TWINT has already surpassed the annual target it set itself and will process more than 100 million transactions by the end of 2020.
Innovation leader in the field of mobile payment
TWINT is committed to simplifying the daily routine and connecting to give customers freedom and independence. 'Our concept is future-proof, because our system is open and can integrate many different technologies and applications,' said Markus Kilb. As a visionary mobile application, TWINT will one day offer considerably more functions than just making payments. 'We are focusing on the people and their daily needs. TWINT is the open platform for innovations relevant for everyday life that are only becoming possible due to integrated payment,' said Anton Stadelmann, CCO and Head of Innovation at TWINT: 'As we are well established in Switzerland and understand the local market, we will look for more partners so that we can link up various functions and services and integrate them within the TWINT app.' It is already possible to pay almost everywhere with the TWINT app.
New functions in the app
Digital vouchers for brands such as H&M, Zalando, Spotify and Nintendo can now also be sent with TWINT via the new TWINT+ tile on the home screen. It is also very easy to make donations to various charities via TWINT. Following the integration of additional partners, it will in future be possible to make restaurant bookings via TWINT+, select meals from the menu and then order and pay for them within the app.
New advantages in the TWINT parking app
TWINT has massively simplified the payment process for parking fees and covers 500 locations (cities and municipalities) and 200,000 parking spaces throughout Switzerland. An update to the function has now made the entire process even more convenient, as parking spaces can now be booked and paid for directly from the TWINT app and therefore without having to walk to the parking meter. The parking time can be specified at the beginning of the parking period and, where necessary, can exceed the actual time that may be required. Should you pay for too much time at the beginning of your parking stay, you will be reimbursed the money for the time you did not use immediately once you end the parking session. As a result, unnecessary parking fines are easily avoided thanks to TWINT.
The growth of TWINT in figures
As of October 2020, TWINT has more than three million users in Switzerland. This number has thus risen by 80% within the space of a year, making TWINT the most popular mobile payment solution in the country.
TWINT users now make more than 11 million transactions per month. They are executed by simply scanning the TWINT QR codes or via the Beacon at cash registers, in online shops or within apps. The number of these transactions has tripled within a year.
TWINT is now offered as a payment method comprehensively throughout Switzerland. The number of merchants and businesses that accept TWINT has risen to more than 150,000 in October 2020. Some 15,000 merchants registered for TWINT since spring alone. In addition to major brands, this figure also includes many farm shops, market stalls and factories.
TWINT media contact for German-speaking Switzerland
TWINT media contact for French-speaking Switzerland