A mobile wallet is a software application which performs many of the same functions as checking cards, credit cards and checks.
These software applications rely on hardware built into mobile phones to transfer date to and from point of sale (POS) terminals. They can be used to place orders to your bank allowing third-parties to draw on your account. Some mobile wallets are also capable of initiating wire transfers between private accounts.
Many major Swiss banks, including Credit Suisse, UBS, Postfinance, Raiffeisen and many cantonal and regional banks support the Twint mobile wallet and allow customers to link this mobile wallet to their private accounts. Migros Bank incorporates a mobile wallet into the Migros app.
A number of Swiss credit card issuers support the Apply Pay mobile wallet developed by U.S.-based Apple Inc. and Samsung Pay developed by South Korean electronics manufacturer Samsung. Other mobile wallets supported by some Swiss credit cards are Fitbit pay developed by U.S. corporation Fitbit Inc. and Garmin pay developed by U.S. corporation Gamin Inc.
The interactive Swiss credit card comparison on moneyland.ch includes filters which make it easy to find credit cards which are compatible with popular mobile wallets.
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Swiss credit card comparison