Swiss Economy: How does Twint work and its link with your bank account?

In Switzerland, the digitalization of payments has grown considerably in recent years. In a country long attached to cash, solutions like Twint are now essential everyday tools. This mobile payment method, 100 % Swiss, is not only practical, but also closely linked to Swiss banking system. Here is a complete overview of how Twint works, its impact on the local economy, and its relationship with... Swiss bank accounts.

TWINT app presentation video

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Twint: the Swiss answer to mobile payments

Launched in 2016, Twint is the most widely used mobile payment app in Switzerland. It allows users to pay in stores, online, transfer money between individuals, and pay QR bills. Its success is based on several pillars:

• A mass adoption by major Swiss banks (UBS, Credit Suisse, Raiffeisen, PostFinance, etc.)
• A direct integration with bank accounts
• A data protection complies with strict Swiss standards

Unlike solutions like Apple Pay or Google Pay, Twint is a local product, designed by and for the Swiss financial ecosystem.

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How does Twint work with a bank account?

One of Twint's major assets is its direct link to bank accounts users. Depending on the bank you use, there are two main modes of use:

1. Twint banking (linked to a specific bank)

If you are a customer of one of the major Swiss partner banks, you can download the "home" version of Twint, as UBS Twint, Raiffeisen Twint Or PostFinance Twint. This version is directly connected to your bank account, which means that:

• Payments are debited from the account in real time
• No balance top-up is necessary
• Authentication often goes through your usual banking app

This operation offers simplicity and efficiency, while ensuring excellent transaction traceability. The advantage of Twint is its simplicity, speed, and the fact that a huge number of Swiss citizens have adopted it. No more need for know the IBAN or the clearing number to make bank payments.

2. Twint Prepaid (standalone version)

If you prefer not to link your bank account directly, or if your bank does not offer its own Twint app, you can use Twint Prepaid. In this case :

• You manually top up your Twint balance from any bank account
• You can also add money by credit card or payment slip
• The operation remains similar, but with a prepaid balance

This option offers more control for those who want to limit their digital spending.

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Twint's impact on the Swiss economy

With more than 5 million active users (in 2025), Twint has become a key player in the Swiss economyIts influence is felt on several levels:

1. Decrease in cash usage

While Switzerland remained one of the most cash-dependent European countries, Twint has helped change habits, especially among younger generations. In 2023, for the first time, mobile payments overtook cash payments in some segments.

2. Massive adoption among retailers

From major brands (Coop, Migros, SBB) to small local businesses, Twint is accepted almost everywhereIts lower cost than credit cards and its ease of use make it a popular tool for the self-employed.

3. Simplified payment of bills and donations

Paying bills via Twint QR code has become widely popular, as have payments of donations to associations, shopping at the market or paying for parking.

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Twint and security: what about it?

One of the major concerns of users remains the banking data security. Twint, being managed by a Swiss company (Twint AG) and in collaboration with banks, complies with Swiss cybersecurity standards. Moreover :

• No sensitive data is stored on the phone
• Transactions are protected by strong authentication
• If the smartphone is lost, the app can be quickly deactivated

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Why is Twint so popular in Switzerland?

There key to Twint's success, it is its adaptation to Swiss specificities: multilingualism, QR payments, community life (payments between friends, sports club, etc.), and above all, its direct compatibility with local banksUnlike international solutions, Twint works without credit card, which makes it a more accessible tool for the population.

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Conclusion

Twint is much more than just a payment app. It's the symbol of a changing Swiss economy, which embraces digitalization while maintaining its local roots. Whether you are a consumer, a merchant or a tourist, understanding the how Twint works and its link with your bank account will allow you to better navigate this new era of payments.