Mobile payment app UBS TWINT goes live

By   /  April 21, 2017  /  Comments Off on Mobile payment app UBS TWINT goes live

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MIL OSI Global Economy

Source: UBS

Headline: Mobile payment app UBS TWINT goes live

Zurich, 21 April 2017 – The new mobile payment solution in Switzerland has been adopted by more than 30 banks. As other major partners bring their own TWINT apps onto the market over the coming weeks, the payment network will expand even further.

Andreas Kubli, Head Multichannel Management & Digitization at UBS Switzerland AG is delighted: “Having set new benchmarks for P2P payment with Paymit, we’re now using TWINT to make payments at shop tills, vending machines or online a simple and convenient experience for our clients.” Storage of client details in the app enables the user to pay at the till and collect points all at once thanks to “One Tap”. The new digital wallet means searching for small change to slot into Selecta vending machines is a thing of the past. Credit card details no longer need to be typed in when shopping online. Instead, the user simply scans a secure QR code, and the payment is made in a matter of seconds.

Retailers are also showing a lot of interest in the new solution. Coop, Interdiscount, 600 post offices and thousands of small traders are already accepting the digital wallet. More large and small traders are set to do so over the coming weeks and months.

UBS TWINT can be used by anyone who has a mobile phone running Android or iOS. In order to work, the mobile device needs to have a Swiss number and the user needs to select a Swiss credit or prepaid card, or a UBS account to connect to the app and use it as a means of payment.

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