Financial brokerage Swissquote announced its mobile payment app TWINT on Monday, telling investors it “marks one step further towards being a universal bank for private clients.”
The Gland, Switzerland-based firm, said the app is a payment solution for its clients and will be available for all eTrading-account holders free of charge.
TWINT is a leading payment app in Switzerland and already has over four million users. It allows customers to make payments via smartphone with various types of merchants, including in-store, online, when parking, on public transport, or peer-to-peer.
Marc Bürki
“Launching Swissquote TWINT is the next logical step towards our goal of becoming the first bank for our clients, also concerning mobile payment. And we are very happy to have TWINT as a strong partner,”
said Marc Bürki, CEO of Swissquote.
Swissquote will launch its own TWINT app on August 9, with clients needing to have an eTrading account at Swissquote and a smartphone with an iOS (version 13.0 and up) or Android operating system (version 7 and up) including Bluetooth. In addition, transactions using the TWINT app are free of charge for Swissquote’s eTrading account holders.
After Swissquote experienced record growth in 2021, the firm moved to expand its suite of services. At the start of the year, the company announced the acquisition of Keytrade Bank Luxembourg through its Luxembourg-based subsidiary. Following the announcement, Bürki stated it would strengthen Swissquote’s European expansion, and they would continue to develop their service offering to suit the needs of institutional and private clients.
