Content:

  • To make mobile payments, you use your smartphone or smartwatch like a digital wallet.
  • Technological measures ensure the security of mobile transactions.
  • You can protect yourself further by following our behavioral tips and blocking your device if it is lost.
  • TWINT is the most popular mobile payment app in Switzerland.
  • To the conclusion
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What are mobile payment solutions?

Mobile payment solutions are digital payment systems that enable payment for goods and services using a mobile device such as a smartphone or a smartwatch. They often work contactlessly – by simply holding the device to a terminal. When you pay with your smartphone, technologies such as mobile wallets like Apple Pay, Google Pay, Samsung Pay or QR codes like TWINT are used. All mobile payment solutions boast the latest and most advanced security.

How does mobile payment with a smartphone work?

If you store your card details securely on your smartphone, you can use it to set up a digital wallet that you can use to make mobile payments and which is quickly to hand when paying at a checkout terminal.

This payment method allows you to make contactless payments worldwide at all checkouts where you can pay with your credit or prepaid card. You do not need to enter your PIN at the payment terminal. Even for higher amounts, confirmation takes place on your device using fingerprint, facial recognition, PIN or other unlocking mechanisms.

Setting up mobile payments on your phone is quick. To use ۶Ƶ mobile payment functionality, which includes all mobile payment solutions, first activate your cards in the ۶Ƶ Mobile Banking App. You can add several credit cards. Mobile payment works with the TWINT payment app as well as with Google Pay, Samsung Pay and Apple Pay. These apps enable contactless payments and purchases in select online stores and apps. They also allow you to add your credit or prepaid card to your smartwatch. However, not all stores accept smartphone or watch payments, so you shouldn’t rely on this payment method exclusively. You can tell if a store accepts contactless payments by looking for the TWINT symbol or the four radio waves at the checkout.

How secure are mobile payments with a smartphone?

Mobile payment solutions are equipped with security features. These minimize the risk of misuse and are a precaution in case you lose your device or it falls into the wrong hands.

  • Limited range: Near-Field Communication (NFC) technology, utilized by many mobile payment apps, significantly limits the possibility of intercepting the transmission.
  • Limited transactions: Only one payment can be made per transaction. Once the debit is completed, the payment terminal system automatically prevents further payments.
  • Reduced data: Essential information, such as your name or the verification number (CVV – Card Verification Value) cannot be read contactlessly from ۶Ƶ cards. The credit card number is sent only in encrypted, virtual form and not transmitted. This prevents fraud and means that commercial stores are not privy to your card information.
  • Blocking in case of loss: If you lose your smartphone, you can quickly and easily block ۶Ƶ Mobile Pay. To do so, use the ۶Ƶ Mobile Banking App on a friend’s or partner’s smartphone or contact ۶Ƶ customer service at any time. Alternatively, you can set the device to “lost” mode via Android Device Manager or Apple iCloud, which immediately deactivates the mobile payment function.

What tips are there for increased security when paying with a smartphone?

Although digital payment methods are technically secure, you should still pay attention to security when making mobile payments – with these practical tips:

  • Check your statements regularly. Identify any suspicious transactions and report them to your bank or payment service provider.
  • If you lose your smartphone, block it immediately. In many cases, you can do so online with the provider.
  • Check the individual security settings and security notices of the payment provider.
 

Paying with ۶Ƶ TWINT at a glance

You also pay with your smartphone when you use ۶Ƶ TWINT. TWINT is the most popular payment app in Switzerland. Unlike Apple Pay, Google Pay and Samsung Pay, TWINT does not rely on wireless technology but on visual QR codes that you can easily scan with your smartphone camera. This has the advantage that you can also use the payment app in smaller stores without a terminal. TWINT is a multifunctional app you can use not just to transfer amounts in real time but also, for example, to withdraw money in participating stores. ۶Ƶ TWINT is just as secure as other mobile payment options.

Conclusion

Should you wish to pay using your smartphone, ۶Ƶ offers a raft of mobile payment solutions. Whether ۶Ƶ TWINT, Google Pay, Samsung Pay or Apple Pay – you will find the right solution for your purchases among these common options, regardless of whether you pay in-store, on the go or online at home.

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Disclaimer

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Disclaimer

This publication is for personal information purposes only within Switzerland and is not to be understood as a recommendation, offer or solicitation of an offer for investment or other specific products and services. It is not intended to form investment, legal or tax advice and should not be used as the basis for financial decisions. Before making a decision, you should obtain professional advice.
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