Viseca and Cornèrcard Launch PayInit to Enable Global P2P Transfers from Swiss Cards
Viseca and Cornèrcard have established PayInit to develop an industry solution for global peer-to-peer (P2P) money transfers using Swiss-issued payment cards.
The platform will allow customers of participating providers to send funds worldwide to payment cards, digital wallets, or bank accounts.
It will operate via Mastercard and Visa networks and their partners, adhering to established security and data protection standards.
An alias-based recipient directory will be introduced, enabling users to transfer money using phone numbers or electronic addresses.
Opentech has been appointed as the technology partner. Its OpenPay Send platform is designed to support interoperability between banks, card issuers, and international payment networks.
The solution is open to all Swiss card issuers and mobile payment providers. Participation in PayInit AG is not required to access the service, which will be offered through contractual agreements.
Read more: https://fintechnews.ch/payments/viseca-cornercard-payinit-global-p2p-transfers/82697/
