The Swiss payment app Twint wants to expand its business model and is focusing on a modern counterpart to the classic direct debit procedure. The new direct debit solution is to be launched in time for the switch-off of the previous LSV+ at the end of September 2028.

According to the press release, Twint is promising «a future-proof new generation of direct debit. Merchants and users can therefore look forward to a modern product that combines the familiar advantages of direct debit with the intuitive, digital user experience of Twint.»

New Competition in the Core Business

The announcement comes at a time when Twint's traditional business of real-time payments is facing new competition. With the launch of SIC Instant Payments by the Swiss National Bank and SIX, a real-time payment solution will be available to traditional banks from this year, which could challenge Twint's current USP in payment transactions.

Twint is owned by Postfinance, UBS, Raiffeisen, ZKB, BCV, SIX and Worldline, among others. With over five million active users, it is the leading payment app in Switzerland.