Unzer, a prominent player in the payments industry, is expanding its offerings in Switzerland by incorporating Twint, the widely used mobile payment system. This integration enables retailers to seamlessly incorporate Twint into their online checkout processes, providing Swiss consumers with a preferred payment method.
Twint is known for its secure payment capabilities both online and in physical stores, as well as its real-time peer-to-peer transaction functionality. With over five million users, representing more than half of the Swiss population, and having processed over 590 million transactions in 2023 alone, Twint has become a significant force in the Swiss payments landscape. This integration aligns with the growing popularity of contactless payment solutions, which now account for 84% of all payments in key sectors of the Swiss economy, according to the Swiss National Bank.
What is Twint?
For Swiss based merchants, Twint isn’t just another payment option; it’s a strategic tool to boost sales and customer satisfaction. By integrating Twint, you’re essentially welcoming over half of the Swiss population who already use and trust this app, making it akin to accepting cash, but with added digital convenience and security. In your physical store, customers can simply scan a QR code at the register with their Twint app for a swift and hygienic checkout. In your online shop, Twint “seamlessly” integrates, providing a familiar and convenient payment method for your customers, potentially leading to higher conversion rates. Beyond payments, Twint’s loyalty programs can be customised to encourage repeat business and foster customer loyalty.
For Swiss based consumers, Twint is your all-in-one financial companion. More than just a payment app, it simplifies your life by consolidating your finances in one place. Pay at various establishments, from supermarkets to online shops, and even split bills with friends or pay for parking effortlessly. You can instantly send and receive money from friends and family or request payments with a few taps. Twint will say it also also empowers you to manage your finances effectively by tracking your spending, setting budgets, and even receiving personalized offers. It doesn’t stop at payments – Twint offers additional features like storing loyalty cards, accessing insurance services, and donating to charities, making it a truly versatile tool for your everyday needs.
In essence, Twint is designed to make your financial life efficient, more secure, and more convenient. Its integration with Unzer opens up a world of possibilities for both merchants and consumers, enhancing the overall shopping experience.
Needing no introduction at least as far as the German market is concerned, is the acquiring bank Unzer.
Pascal Beij, Chief Commercial Officer at Unzer, commented on the integration: “We are pleased to add Twint to our comprehensive range of payment methods. This addition allows our retailers to expand their reach in Switzerland and better serve their Swiss customers by offering a leading local payment option.”
Unzer’s integration of Twint not only supports smooth online transactions but also complements Unzer’s existing “buy now, pay later” payment method, upaylater. This combination of options provides consumers with greater flexibility and convenience in managing their finances while making purchases.
Unzer’s commitment to unified commerce ensures a consistent shopping experience across both online and offline channels. The UnzerOne platform serves as a central hub, offering real-time data and intuitive dashboards for enhanced transparency. This unified approach provides retailers with a comprehensive view of their operations, including product, inventory, order, and customer data.
With this strategic integration, Unzer continues to innovate and refine its payment solutions to meet the evolving needs of both merchants and consumers in Switzerland.
For merchants eager to tap into the Swiss market and streamline their payment processes, integrating Twint is a strategic move that promises significant benefits. We would encourage businesses as best practice to thoroughly test the integration in a sandbox environment to ensure a seamless and efficient payment experience for your customers. By embracing Twint, you’re not just adding a payment option; you’re investing in a powerful tool that can enhance your customer engagement, boost sales, and solidify your presence in the thriving Swiss market.
This information is for informational purposes only and does not constitute financial or legal advice.
