Smartphones and tablets are very much part and parcel of modern life – and the technology to turn them into cashless payment devices is now here too. This is a development that could change the financial services market for good. TWINT AG, a wholly owned subsidiary of PostFinance, Switzerland’s number one in financial transaction processing, was launched in July 2014 with the specific aim of developing a “digital wallet” for Swiss customers. Since then, TWINT AG has played a key role in the mobile payment and mobile marketing sectors, and has now launched the country’s first payment and shopping app. The developers from this year’s Partner Country are exhibiting at CeBIT in Hannover from 14 March to show just what they have achieved in this short space of time.
TWINT is all about quick, simple, cashless payments. The principle behind it is very simple – install the app, top up your account free of charge, and start shopping with your smartphone. Unlike many other payment apps, using TWINT does not require a credit or debit card. The app works with all post office and bank accounts and independently of cellphone suppliers. What’s more, credit can be topped up using payment slips, prepaid cards, direct debit or ATMs, and transactions can even be made from smartphone to smartphone (P2P). TWINT also offers major benefits for business customers – the low transaction fees are unrivalled. Payments are either processed directly using a TWINT beacon at the point of sale or via the TWINT Merchant app on a smartphone or tablet. A plug-in can also be used to connect TWINT to online or app shops.
TWINT AG (3007 Bern, Switzerland), Hall 6, Stand D30, Topic: Swiss pavilion