TWINT: Difference between revisions
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'''Twint''' is a Swiss mobile payment app whose development began in 2014, and was rolled out nation-wide in 2017. In 2024, Twint has become ubiquitous in Switzerland, with practically all stores accepting Twint payments, and nearly all banks taking part in the payment system. |
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#REDIRECT[[SIX_Group#2016%3A_Mobile_payment_with_TWINT]] |
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Twint had approximately five million users at the begin of 2023,<ref name=Watson>{{Cite web |url=https://www.watson.ch/digital/wirtschaft/532357684-das-einst-belaechelte-twint-hat-jetzt-ueber-5-millionen-user |title=Das einst belächelte Twint hat über 5 Millionen User – wichtiger ist aber eine andere Zahl |date=2023-02-23 |access-date=2024-07-04 |website=Watson |language=de |trans-title=The once ridiculed Twint has over 5 million users – but another number is more important}}</ref>, while the adult population of Switzerland numbered seven million at the same time. |
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== Function == |
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Each Twint account is connected a mobile phone number, a bank account, or both. |
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;Payments to other Twint users |
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When making a payment to a private Twint user, the payer selects the receiver's contact in the app, and specifies the sum. A receiver can also request a sum from a mobile phone contact if that person is also using the Twint app.<ref name="TwintFAQ">{{Cite web |url=https://www.twint.ch/en/private-customers/support/ |title=FAQ – frequently asked questions |access-date=2024-07-04 |website=Twint}}</ref> |
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;Payment in stores |
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Payment when making purchases can happen in two ways: |
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* The credit card terminal's display shows an instantly generated [[QR code]] that contains both the recipient's account, and the amount to be paid, |
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* or the store owner displays a sheet of paper on which a static QR code is printed. In that case, the QR code only specifies the recipient's account, and the payer has to enter the sum on his mobile phone. After successful payment, the payer then shows his phone display to the vendor, indicating the sum and the receiver's identity.<ref name=TwintFAQ/> |
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Specifically the latter method has allowed many small stores to be integrated into cashless money transfer, e.g. [[mountain hut]]s, club restaurants at sports matches, and second-hand shops. This way, the store owner does not need any electronic device in order to receive an instantaneous cashless payment. |
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== Sources == |
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<references/> |
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[[Category:Mobile payments]] |
[[Category:Mobile payments]] |
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[[de:Twint]] |
Revision as of 14:02, 4 July 2024
Twint is a Swiss mobile payment app whose development began in 2014, and was rolled out nation-wide in 2017. In 2024, Twint has become ubiquitous in Switzerland, with practically all stores accepting Twint payments, and nearly all banks taking part in the payment system.
Twint had approximately five million users at the begin of 2023,[1], while the adult population of Switzerland numbered seven million at the same time.
Function
Each Twint account is connected a mobile phone number, a bank account, or both.
- Payments to other Twint users
When making a payment to a private Twint user, the payer selects the receiver's contact in the app, and specifies the sum. A receiver can also request a sum from a mobile phone contact if that person is also using the Twint app.[2]
- Payment in stores
Payment when making purchases can happen in two ways:
- The credit card terminal's display shows an instantly generated QR code that contains both the recipient's account, and the amount to be paid,
- or the store owner displays a sheet of paper on which a static QR code is printed. In that case, the QR code only specifies the recipient's account, and the payer has to enter the sum on his mobile phone. After successful payment, the payer then shows his phone display to the vendor, indicating the sum and the receiver's identity.[2]
Specifically the latter method has allowed many small stores to be integrated into cashless money transfer, e.g. mountain huts, club restaurants at sports matches, and second-hand shops. This way, the store owner does not need any electronic device in order to receive an instantaneous cashless payment.
Sources
- ^ "Das einst belächelte Twint hat über 5 Millionen User – wichtiger ist aber eine andere Zahl" [The once ridiculed Twint has over 5 million users – but another number is more important]. Watson (in German). 2023-02-23. Retrieved 2024-07-04.
- ^ a b "FAQ – frequently asked questions". Twint. Retrieved 2024-07-04.