Swiss Mobile Payment Solution Provider TWINT Got a New Investorby Company Announcement May 17, 2018
SIX and WORLDLINE announced a strategic partnership for card business.
At the same time, WORLDLINE is taking a 20% equity stake in Swiss mobile payment solution TWINT.
The transaction will be completed during the course of this year. TWINT’s existing shareholders, the six largest Swiss banks plus SIX, are keeping their stakes in TWINT.
Søren Mose, Chairman of the Board of Directors of TWINT, says:
“Our new pan-European partner, WORLDLINE, has been working hard on creating a cashless society for many years. This partnership opens up whole new horizons for the further development of TWINT.”
Gilles Grapinet, CEO of WORLDLINE says,
“Like TWINT, we strongly believe in the great potential of mobile payment solutions, especially when they are well supported by the local banking community. TWINT has established itself firmly in this market. We really look forward to working together on the further development of this remarkable solution for mobile payment.”
TWINT is already the number one for mobile payments in Switzerland, with over 800,000 registered customers. TWINT lets people send money to other private individuals (P2P payments), make payments in e-commerce directly against their bank accounts, and pay for goods and services at the cash register.
Around 50,000 points of sale already accept TWINT, and the involvement of WORLDLINE will see this number rise quickly. Following the example of Coop Group, Digitec Galaxus, Spar and many other shops, Migros started accepting payment in combination with the Migros app a few weeks ago.