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Swiss banks, retailers partner up on mobile payments

Swiss banks, retailers partner up on mobile payments

(31 March 2016 – Switzerland) Switzerland's five biggest banks are in discussion with the country’s top retailers  to create a joint mobile payments platform, the partners have revealed in a statement.

The banks partaking in the project include UBS, Credit Suisse, PostFinance, Raiffeisen and ZKB, with the retailers Coop, Migros and Swisscom and financial infrastructure group SIX.

The statement said that it is results from the initial talks are expected to be available by early May. Any platform would be open to other partners.

PostFinance and SIX have already launched their own mobile payment systems, and development work would continue while the talks with other potential partners go on.

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