BCV to become a shareholder in TWINT

BCV will hold a stake in new company TWINT SA, which will bring together two Swiss mobile payment systems – Paymit and TWINT. The new company has been given the green light by the Swiss Competition Commission and will be created in the coming weeks. BCV’s decision to become a shareholder is in keeping with its strategic objective of improving integration across physical and virtual customer touch points and enhancing its digital banking services.

BCV began offering P2P payments via Paymit earlier this year. This service will remain available until the roll-out of the new mobile payment system, which is scheduled for early 2017. In addition to Paymit’s existing features, the new system, which will be marketed under the TWINT brand, will allow clients to use their smartphones to pay for purchases in shops and online. More information about the new features and the migration process will be made available in due course.

The decision to merge Paymit and TWINT was made in the spring, with a view to providing a mobile payment solution specifically designed for the Swiss market. TWINT SA’s shareholders include some of Switzerland’s main banks – UBS, Credit Suisse, Raiffeisen, Zürcher Kantonalbank, PostFinance and BCV – as well as financial infrastructure operator SIX. Retailers Migros and Coop and telecom provider Swisscom are also supporting the initiative.

For more information, please see the related SIX and TWINT press release.

Lausanne, Switzerland, 9 September 2016

Contacts

Christian Jacot-Descombes, Press Officer

Tel.: +41 21 212 28 61 Email:christian.jacot-descombes@bcv.ch

Gregory Duong, Investor Relations

Tel.: +41 21 212 20 71 Email: gregory.duong@bcv.ch