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Swiss banks explore joint mobile payments platform

Five of Switzerland’s biggest banks are reported to be discussing with top retailers a joint mobile payments platform for the country, the partners said on Wednesday.

The talks with financial infrastructure group SIX and retailers Coop, Migros and Swisscom aim to

Mobile banking, business finance and making money concept: modern metal black glossy touchscreen smartphone with personal wallet application and group of color credit cards isolated on white background with reflection effect

                Swiss banks explore joint                                   mobile payments platform

create a standardised pan-Swiss digital payment system for consumers.

A joint statement said the talks by banks UBS, Credit Suisse, PostFinance, Raiffeisen and ZKB should produce initial results by early May. Any platform would be open to other partners.

PostFinance and SIX have already launched their own mobile payment systems, and development work would continue while the talks with other potential partners go on.

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