Swiss banks, retailers explore joint mobile payments platform

Reuters News
Posted: Mar 30, 2016 6:18 AM

ZURICH (Reuters) - Switzerland's five biggest banks are 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 create a standardised pan-Swiss digital payment system for consumers.

A joint statement said the talks by banks UBS, Credit Suisse, PostFinance [PFAG.UL], Raiffeisen [RFSHW.UL] and ZKB [ZKB.UL] 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.

(Reporting by Michael Shields; editing by Susan Thomas)