Viseca and Cornèrcard have established PayInit to develop an industry solution for global peer-to-peer (P2P) money transfers using Swiss-issued payment cards.
The platform will allow customers of participating providers to send funds worldwide to payment cards, digital wallets, or bank accounts.
It will operate via Mastercard and Visa networks and their partners, adhering to established security and data protection standards.
An alias-based recipient directory will be introduced, enabling users to transfer money using phone numbers or electronic addresses.
Opentech has been appointed as the technology partner. Its OpenPay Send platform is designed to support interoperability between banks, card issuers, and international payment networks.
The solution is open to all Swiss card issuers and mobile payment providers. Participation in PayInit AG is not required to access the service, which will be offered through contractual agreements.
Stefan Brunner, Chief Product Officer at Viseca, said:
“The combination of global payment initiation and a scheme-compliant recipient directory provides a consistent user experience. The solution is open to all card issuers.”
Alessandro Seralvo, Chief Executive Officer of Cornèrcard, said:
“The card-based approach allows customers to send money globally, regardless of whether recipients use cards, wallets, or bank accounts.”
The launch is planned for the end of 2026.
Featured image credit: Edited by Fintech News Switzerland, based on image by poungsaed via Freepik
