SIX, UBS and ZKB satisfied with launch of payment app

In the first week since its launch, the app called Paymit has been downloaded and activated more than 10,000 times, representatives of SIX, UBS and ZKB told the media in Zurich on Wednesday. UBS accounted for the largest share. At Switzerland's largest bank, the app has been downloaded 14,000 times and activated 9,000 times, they said. "We are very happy," said Andreas Kubli of UBS. That's because until now, the app had only been publicized among employees and experts. The 2.5 million customers in Switzerland will be addressed next week with a "very loud" advertising campaign.

Notice: Read more about the UBS campaign in the print edition of Werberwoche (10/2015), which will be published on Friday.

The ZKB was also satisfied. Within a week, there had been 1564 activations of the app, said product management head Martin Loosli: "We consider the number to be very positive." The SIX app had been downloaded 500 times, said SIX CEO Urs Rüegsegger. The app allows individuals to transfer and request funds via smartphone. This means, for example, that the partial amount for a joint lunch paid by one person for all can be transferred to a colleague. The money goes directly from bank account or credit card to bank account.

Not yet at the store checkout

However, the app cannot yet be used at the store checkout, it said. This distinguishes Paymit from Swisscom's payment app Tapit, which can be used to pay by cell phone in stores. However, the use of Paymit in retail is in preparation. The company is in talks with retailers, Kubli said. The prerequisite for using the app is a Swiss cell phone number and, depending on the app, a bank account or a credit or prepaid card. Because the app is based on a uniform banking standard, it can be used by anyone living in Switzerland - regardless of whether they are a customer of UBS, ZKB or another bank, the statement added. For a payment to be processed, both the payer and the payee must use Paymit. It makes no difference whether users use the Paymit solution from UBS, ZKB or the independent solution from SIX. Because the system is open, all banks can use it. Credit Suisse and Raiffeisen have already expressed interest and are looking into a timely launch, said Pedro Deserrano, head of marketing for SIX's payments division: "Our goal is not to virtualize the bank card, but to replace cash."

Postfinance also ahead of launch

The number of cash payments is falling steadily. In 2010, 87 percent of all payments in Switzerland were made in cash; this year, the figure is only 71 percent. And by 2020, it is likely to be only 60 percent, Deserrano explained. There is great potential for payments between private individuals, he said. "We know that from other countries like the United Kingdom and Denmark," Deserrano said. Dankse Bank alone has 1.6 million customers for its payment app in a country with a population of 5.6 million, Kubli said. While the financial industry is pleased with the launch of its payment app Paymit, Swisscom has a different tone. Swisscom CEO Urs Schaeppi has repeatedly said he is not satisfied with Tapit's appeal to customers. The app, which was launched last year, has only been downloaded 10,000 times. UBS had participated in a trial of Tapit, but decided not to pursue the project. Postfinance also plans to launch its own payment app called Twint in the fall. This will work with credit cards, the bank or postal account or with prepayment as with a prepaid card. The user does not have to be a Postfinance customer. Twint is also independent of the telecom provider. There are plans to use it at Coop or the canteen operator SV Group, among others. (SDA)