Switzerland

ISO CH · 2 schemes

Summary

Swiss QR-bill is the national standard, replacing 7 different payment slips since October 2022
TWINT is the dominant mobile payment app with 60+ bank-specific versions
SIC IP launched August 2024 for instant CHF payments (95% coverage)
UBS is now the sole global bank after Credit Suisse merger (June 2024)
Potential TIPS link being explored for cross-border EUR instant payments

Banking landscape

Central Bank

Name: Swiss National Bank (SNB)
Website: https://www.snb.ch/
Role: Monetary policy, SIC system principal

Major Banks (2024)

Rank	Bank Name	Total Assets (CHF)	Type
1	UBS Group AG	~1,565,000 M	Global systemically important
2	Raiffeisen Group	305,610 M	Cooperative (~300 banks)
3	Zürcher Kantonalbank (ZKB)	~203,000 M	Cantonal (AAA rated)
4	Banque Cantonale Vaudoise	~60,000 M	Cantonal
5	PostFinance	~120,000 M	State-owned

Credit Suisse Merger

June 2024: Credit Suisse (Schweiz) AG merged into UBS Switzerland AG
UBS is now Switzerland's sole globally active bank
Significant market concentration increase

Banking Sector Overview

Total Banks: 237 (as of January 2024)
Types: Global banks, cantonal banks, cooperative banks, private banks
Credit Ratings: ZKB rated AAA (Fitch), Aaa (Moody's)

Key Organizations

SIX Group: Payment infrastructure operator
Swiss Bankers Association: Industry representation

Payment infrastructure

National Payment Systems

System	Operator	Type	Status
SIC	SIX Interbank Clearing	CHF RTGS	Active (since 1987)
SIC IP	SIX/SNB	CHF Instant	Active (August 2024)
euroSIC	SECB	EUR payments	Active (via TARGET)
TWINT	TWINT AG	Mobile payments	Active

SIC (Swiss Interbank Clearing)

Operator: SIX Interbank Clearing Ltd (on behalf of SNB)
Launch: June 10, 1987
Participants: 325 financial institutions (2018)
Daily Volume: ~2.4 million transactions
Daily Value: CHF 156 billion average

SIC IP (Instant Payments)

Launch: August 2024
Speed: <10 seconds end-to-end (0.2 seconds SIC processing)
Coverage: 95% of Swiss customer payments
Remaining Banks: Expected by 2026
Standards: ISO 20022, aligned with SEPA SCT Inst

ECB TIPS Link Exploration

Announced: Late 2024
Purpose: Cross-border EUR instant payments
Feasibility Phase: Throughout 2026
Partners: ECB, SNB

euroSIC

EUR payment system linked to TARGET
Operated via Swiss Euro Clearing Bank (SECB) in Frankfurt
Enables Swiss access to European payment networks

QR code standards

Swiss QR-bill (Primary Standard)

Attribute	Value
Standard Name	Swiss QR-bill / QR-Rechnung
Barcode Type	QR Code with Swiss cross
Operator	SIX Group
Launch: June 2020
Mandatory: October 1, 2022
Current Version: 2.3 (November 2025)
Currencies: CHF and EUR

Physical Specifications

Payment Part: DIN A6 landscape (148 x 105 mm)
Components: Payment section + Receipt
Identifying Feature: Swiss cross in QR code center

Data Structure (31-34 lines)

Field	Description	Format
QRType	Fixed identifier	"SPC"
Version	Standard version	"0200"
Coding	Character set	UTF-8
IBAN	Creditor account	CH/LI IBAN or QR-IBAN
Address Type	Structured (S) or Combined (K)	"S" (only since v2.3)
Creditor Name	Beneficiary name	Max 70 chars
Creditor Address	Street, number, postal, city, country	Structured
Amount	Payment amount	0.01 - 999,999,999.99
Currency	CHF or EUR	3 chars
Debtor Info	Payer details	Optional
Reference Type	QRR, SCOR, or NON	4 chars
Reference	Payment reference	See below
Additional Info	Unstructured message	Max 140 chars
Trailer	End marker	"EPD"
Billing Info	Structured billing data	Optional
AltPmt	Alternative procedure	Optional (2x)

Reference Types

Type	Name	Format	Use
QRR	QR Reference	27 digits (27th = check digit)	Swiss domestic
SCOR	Creditor Reference	RF + 2 check + up to 21 chars (ISO 11649)	International
NON	No Reference	Empty	Unstructured payments

QR-IBAN vs Standard IBAN

QR-IBAN: Required when using QR Reference (QRR)
Standard IBAN: Used with SCOR or NON reference types

Version 2.3 Changes (November 2025)

Structured addresses only (no more combined format)
Additional umlauts and special characters supported

TWINT QR

Attribute	Value
Type	Mobile payment QR
Use Cases	POS, P2P, online, parking, vending
Modes	Static (printed) or Dynamic (POS terminal)

Mobile payment apps

TWINT Ecosystem

App Version	Bank	QR Support	Notes
UBS TWINT	UBS	Yes	#1 in Switzerland, 1M+ users
ZKB TWINT	Zürcher Kantonalbank	Yes	Cantonal bank version
Raiffeisen TWINT	Raiffeisen	Yes	Cooperative banks
PostFinance TWINT	PostFinance	Yes	State-owned bank
Credit Suisse TWINT	(merged to UBS)	Yes	Transitioning
+ 55 more versions	Various cantonal/regional	Yes	~60 total versions

TWINT Features

POS Payments: Scan QR on terminal or printed code
P2P Transfers: Send money by phone number
Online Shopping: Checkout integration
Parking: Start/stop directly from app
Vending Machines: QR code payments
Farm Stalls: 1,900+ Swiss farm stands accept TWINT

Bank Mobile Apps (QR-bill Support)

App	Bank	QR-bill Scan	QR-bill Pay
UBS Mobile Banking	UBS	Yes	Yes
ZKB Mobile	ZKB	Yes	Yes
Raiffeisen E-Banking	Raiffeisen	Yes	Yes
PostFinance App	PostFinance	Yes	Yes

Third-party payment apps

App Name	Type	QR Support	Notes
TWINT	Mobile wallet	Yes	Dominant in Switzerland
Apple Pay	NFC Wallet	No	Card-based
Google Pay	NFC Wallet	No	Limited adoption
Samsung Pay	NFC Wallet	No	Card-based

TWINT Dominance

Ubiquitous in Switzerland
Nearly all banks participate
Can be linked to any Swiss credit/prepaid card (UBS version)
Estimated 5+ million users

Schemes

Scheme	Type	Symbology	Adoption	Technical standard
Swiss QR-bill	Invoice QR	QR Code	100% mandatory	`swiss-qr-bill`
TWINT QR	Payment QR	QR Code	Dominant	`twint`

Sources

Full country report

CH-switzerland.md

Schemes

Standards

Primary · 2

Mentioned · 3