PostFinance introduces cashless shopping
Switzerland’s first integrated payment and shopping app will be launched under the name TWINT in 2015. This new solution will be launched by TWINT AG, a subsidiary of PostFinance. The service will enable purchases to be paid for directly using a smart phone – be it at the checkout of a sales outlet, at a vending machine, online, in other apps or at events. Value-added services such as coupons and loyalty cards will be integrated into the app.
Swiss Post, whose primary strategic focuses include developing new services at the interface between the physical and digital world and innovative solutions for online trade, is reviewing the integration of TWINT in around 1,600 post offices as well as in the postshop.ch e-shop.
Features of the app
In contrast to familiar existing digital wallet solutions, TWINT does not require any credit and debit cards and works independently of telecom providers. TWINT is more cost-effective than earlier payment solutions.
TWINT runs on all current iOS and Android operating systems and can be used by anybody, regardless of whether or not they are a PostFinance customer. As well as the innovative payment solution, TWINT uses mobile marketing functions (“coupons”).
TWINT is to become fully available throughout Switzerland. Discussions are ongoing with the Coop Group about introducing the solution at around 6,000 checkouts. TWINT AG is also in talks with Digitec and Galaxus, the most important providers in the online market.
