Switzerland is a market with per-capita income and online average order values among the highest in Europe, and TWINT sits at the center of its payment ecosystem. Operated by TWINT AG, jointly funded by major Swiss banks, it has more than 5 million users, over half of the country's population of roughly 8.8 million. Switzerland is not an EU or EEA member and has its own regulatory regime, with FINMA overseeing the payments sector separately, but what sets this market apart is that, unlike anywhere in the eurozone, an app created by the country's own banking sector has become the default means of online payment.

For merchants selling high-order-value products such as fashion, outdoor gear, or premium consumer goods to Swiss consumers, TWINT is worth considering as a top priority. Swiss customers tend to be sensitive to whether their familiar local app appears at checkout, so offering it, rather than only cards and global wallets, can be expected to reduce checkout abandonment.

During online checkout, the consumer selects TWINT, then either scans a QR code or switches to the app to approve the payment in their TWINT app. It's an app-approval payment method where funds move from a linked bank account or card without entering a card number. Hecto Financial receives the approved CHF payment and, after currency conversion, settles it with the Korean merchant in USD, KRW, or JPY, whichever currency was selected under the contract.

With Hecto Financial's integration, merchants in Korea can consider adoption without a local Swiss entity or a direct contract with TWINT AG. However, actual support availability and terms (settlement cycle, fees, currency options) vary by industry and transaction volume, so confirmation with Hecto Financial's sales team is required before signing a contract.

• Business registration country

  Confirm contract eligibility for businesses registered in Korea

• Sales channels

  The integration method and priority differ depending on your online sales channel mix, such as owned storefronts, open marketplaces, or mobile apps

• Product categories

  Advance confirmation is needed on whether your business falls under a restricted category under TWINT's merchant policy

• Regulatory environment

  Switzerland is not an EU or EEA member, so PSD2 does not apply directly, and FINMA oversees the payments sector. That said, its remittance and transfer infrastructure participates in the SEPA area, maintaining connectivity with European payment networks (see official sources below)

TWINT payments are made in Swiss francs (CHF). Hecto Financial receives these locally, converts the currency, and settles with the Korean merchant in whichever of USD, KRW, or JPY was selected under the contract. The settlement cycle follows the contract terms, and refunds are subject to both TWINT's policy and Hecto Financial's operating policy. Because Switzerland is not an EU member state, the EU's statutory 14-day withdrawal right does not apply as a legal requirement, but Swiss consumers still expect a clear returns and refunds policy, so advance disclosure is recommended.

• Swiss National Bank (SNB) / Swiss Financial Market Supervisory Authority (FINMA)Official information on Switzerland's payment systems and financial supervision. If this page's content differs from actual regulations, the official source takes precedence.