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Swisscom Launches Tapit

Light Reading
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7/1/2014
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BERNE, Switzerland -- On 1 July 2014, Tapit will become the first smartphone app on the Swiss market that allows users to make payments, collect loyalty points and open doors in a single, neutral ecosystem. Tapit will initially enable cashless payments in shops in Switzerland and abroad using Visa credit cards and prepaid cards issued by Cornèrcard, with MasterCard credit cards issued by the Aduno Group/Viseca to follow in the near future. Tapit is a shared platform for the three mobile providers in Switzerland: Swisscom customers will be the first to benefit from Tapit; the service will be available to Orange and Sunrise customers at a later point this year.

Although smartphones are widely used in Switzerland, use of mobile phones to make payments or access buildings is still in its infancy. Until now, there has been a lack of compatible mobile phones, participating financial institutions and mobile providers. However, in recent months, there has been a sharp increase in number of compatible smartphones and shop terminals. The time is therefore ripe for a new ecosystem: Tapit. The app relies on partnerships between mobile providers and established companies from the areas of finance and business. Tapit, developed by Swisscom, is an independent platform for the three mobile providers and, in cooperation with the financial sector, will be improved on an ongoing basis. The Tapit smartphone app is similar to a wallet in which you can keep various credit, prepaid and debit cards, loyalty cards and access cards. Tapit therefore represents the Swiss wallet of the future.

Swisscom AG (NYSE: SCM)

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