NFC Times Exclusive – Apple’s expansion into Switzerland late last week with its Apple Pay service followed a familiar pattern, as in many of the other new markets the tech giant has expanded its payments service in: support first comes from relatively small issuers while major banks hold out.
That is especially the case in Switzerland, where major banks–at least for now–are continuing to pursue a domestic mobile payments service that mainly uses QR codes for in-store purchases.
The banks and payments infrastructure company SIX, along with a couple of major merchants, recently agreed to combine their competing Twint and Paymit mobile payments services. The new, larger Twint service is slated for launch in the fall.
