Switzerland-based fintech and Cembra subsidiary Swissbilling has announced partnering with mobile payment provider TWINT to enable additional app-based payment options.
The companies say that the cooperation will expand TWINT's payment options and make them more flexible. The launch of the digitally integrated payment solution from TWINT and Swissbilling is planned for summer 2023. However, what the payment options mentioned in the press release will look like was not yet disclosed.
Cembra is a provider of financing solutions and services, including consumer credit products such as personal loans and auto leases, as well as credit cards, invoice financing, deposits, and savings products. The company has over 1 million customers in Switzerland and employs approximately 1000 people from 42 different countries. They operate across Switzerland through their network of branches and online distribution channels, as well as their credit card partners, independent intermediaries, and car dealers. They have been listed as an independent Swiss bank on the SIX Swiss Exchange since October 2013.
Swissbilling is a fintech company that offers online and offline invoice financing and billing services. The company serves more than 900 merchants in Switzerland. In 2017, Swissbilling was acquired by Cembra. The fintech offers solutions with which users can aim to increase sales and liquidity. These solutions include purchase on account, purchase on installments, and factoring.
They also offer Pay Point Printer, which makes a stationary purchase on account possible without waiting "In-store purchase on account", for example, means that customers can pay for the purchase or the services they use by invoice up to a month later. This is done via factoring, meaning that customers can submit the invoices or cash items created to Swissbilling as a factor, which they then finance in advance.
TWINT offers secure smartphone-based payments, which allows users to pay at the cash register in supermarkets, in online shops, or on public transport, amongst many other options. The mobile payment provider has over 1 million registered users and belongs to Swiss banks Banque Cantonale Vaudoise (BCV), Credit Suisse, PostFinance, Raiffeisen, UBS, Zürcher Kantonalbank as well as SIX and Worldline.
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