Swipay Brings Transparency and Fair Fees to Swiss Retail Payments

The Swipay payment network is creating new realities and fair conditions for Swiss commerce.

FinTech company Swipay observes that payment is not a single product or a clearly defined service. It is an evolved system comprised of technical processes, contractual agreements, participating parties, and diverse cost models. While this system functions reliably in most cases, it is rarely structured transparently enough to be readily understood at first glance.

This lack of transparency often makes it difficult for retailers to understand and correctly interpret the relationships, calculations, and fees. These knowledge gaps can lead to incorrect decisions, ultimately costing more money in fees every day than necessary.

What Swipay aims to bring to Swiss commerce

This FinTech company is tackling opaque and (excessively) high fees and advocating for merchants who process payments in-store or online. On the one hand, it provides consulting and support to help merchants choose the right systems for their needs.

On the other hand, it acts as a payment broker, connecting merchants, partners, and systems in the most suitable combinations – with the aim of reducing fees and increasing transparency.

Successful project in western Switzerland

Lausanne is the first region where retailers have partnered with payment experts Swipay for cashless payment solutions. Members of the Lausanne Merchants’ Cooperative (SCCL) participate in this model with economically attractive terms.

Although the Swiss Competition Commission (COMCO) has made significant progress and both Mastercard and Visa have had to lower their interchange fees, the reality remains difficult for many independent businesses, according to Swipay. They often pay more than large chains because they lack negotiating power. This is where the payment network comes in.

“In partnership with the cooperative, we have created an unprecedented framework agreement that enables regional companies to pool their payment volumes and jointly benefit from significantly better conditions ,” explains CEO Eisele, describing the model.

Through this cooperation, member companies have already been able to reduce their transaction costs by at least 20 percent, and in many cases by up to 50 percent. These savings directly improve the margins of Lausanne businesses and strengthen their competitiveness – concrete proof that economic solidarity works.

“While the Competition Commission (Weko) operates at a regulatory level, we have decided to act locally. Together with Swipay, we are demonstrating that retailers can join forces to obtain the same benefits as major brands , ” says Anne Lise Noz , President of the SCCL .

Swipay sees the results of this partnership as reinforcing the feasibility of its mission : fair, transparent and regionally anchored payment solutions are possible – without dependence on international monopolies.

“With such collaborations, we strengthen Swiss trade, promote fair framework conditions and enable independent companies to access modern, cost-efficient payment solutions ,” said Eisele.

The FinTech company aims to set new payment standards throughout the DACH region

The FinTech company from Baar is thinking beyond Switzerland’s borders and aims to set new standards for retail, hospitality, and services in Germany and Austria as well. Therefore, Swipay combines technological performance with strong local market and sales expertise.

Swipay has recently partnered with Beyond by RS2 . As part of the RS2 Group, the new partner brings many years of international experience in technology, processing, and modern cloud infrastructure. Swipay complements this technical network with its market proximity, industry understanding, knowledge of regional needs, and the ability to meet merchants where they are.

While Beyond by RS2 provides the professional procedures, Swipay, as a local independent broker for merchants, is the first direct contact to explain the procedures and processes behind the acceptance of digital payment methods.

The FinTech company believes that payment processing has remained a mystery box for many merchants. This, along with lower fees, is something they aim to change.

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(Featured image by SumUp via Unsplash)

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First published in MoneyToday.ch. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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