Visa and PayInit have announced plans to build shared payment infrastructure that will enable Swiss card-issuing banks to offer cross-border peer-to-peer payments. The development is designed to give financial institutions access to international payment networks without each bank having to develop and maintain its own individual connections.
PayInit will serve as the shared infrastructure layer, while banks can integrate the services into their existing systems and client channels through an API or plug-in. Technology provider Opentech is supporting the technical implementation of the platform.
Visa and PayInit Build Shared Payment Infrastructure
At the core of the offering is Visa Direct, which enables funds to be sent to payment cards, bank accounts and digital wallets worldwide. Alongside standard money transfers, the network also supports services such as payouts and bill payments where applicable.
Visa Plus adds a further dimension to the shared payment infrastructure by allowing users to send and receive money using identifiers such as a mobile phone number or email address, rather than requiring card or account details.
For Swiss banks, the central advantage of this shared payment infrastructure is that individual institutions do not need to build and operate their own technical connections to international payment networks. At the same time, banks retain their client relationships, as transfers can be embedded within their own existing digital channels.
Platform Connects Swiss Banks to Global Payment Networks
PayInit was founded by Viseca Payment Services and Cornèr Bank and is aimed specifically at Swiss card issuers. Rather than replacing existing domestic payment solutions, the platform is intended to complement them, particularly for cross border payments between individuals in different countries.
Santosh Ritter, Visa’s Country Manager for Switzerland and Liechtenstein, noted that more than half of people in Switzerland already use peer-to-peer payments to send money to friends and family, but there remains considerable scope for improvement in cross-border transfers.
Michael Walther, CFO of Viseca and Chairman of PayInit, said the shared payment infrastructure should enable financial institutions to launch such services more efficiently while retaining control of their client relationships.
Alessandro Seralvo, CEO of Cornèrcard and a PayInit board member, highlighted international connectivity as a key benefit. The solution allows money to be transferred across borders regardless of whether recipients use payment cards, digital wallets or bank accounts.
PayInit describes the platform as an open industry solution designed to provide Swiss card issuers with consistent and scalable access to international peer-to-peer payment capabilities. The shared payment infrastructure approach means banks can offer cross border payments and digital payments to their customers through familiar channels, supported by established payment networks such as Visa Direct and Visa Plus.
By building shared payment infrastructure rather than requiring each bank to create its own connections, the platform aims to reduce complexity for Swiss financial institutions looking to expand their cross border payments capabilities. Banks can focus on serving their customers while relying on the shared infrastructure layer for network connectivity and technical integration through a straightforward API or plug-in.
The development reflects growing demand across the financial services industry for payment infrastructure that supports international transfers efficiently, connecting Swiss banks to global digital payments networks without fragmenting the customer experience.