TWINT

TWINT is the most popular payment app in Switzerland. It allows consumers to send money through the app or online platform, using their mobile phone number instead of their bank account information or credit card details. They can even send money directly from within other apps on their phone!

TWINT works through QR codes and Bluetooth. Users making purchases online will use their device’s camera to scan an on-screen QR code. In-store, purchases can be made either via QR codes or by connecting via Bluetooth to the point of sale terminal.

TWINT sends users a text message asking if they want to pay for a transaction, then needs only one click on their phone to confirm the payment. The merchant receives their money immediately after the transaction goes through.

TWINT Network charges merchants an interchange fee of 1% plus $0.25 per transaction.

The app also has several other features including:

• A digital wallet where you can store your funds securely
• A virtual ATM card that lets you make purchases at any participating merchant, anywhere in the world
• Automatic fraud detection that alerts you if someone tries to use your card without permission
• 24/7 customer support with agents who speak English, Spanish, French and German

TWINT is currently accepted only in Switzerland, but is working toward developing partnerships with financial institutions in neighboring countries.