Visa and Mastercard have launched PayInit, a shared infrastructure platform designed to simplify cross-border peer-to-peer (P2P) payments for Swiss card issuers. The initiative allows banks to integrate international P2P transfers into their existing systems via API or plug-in, eliminating the need for individual technical connections to global payment networks.
PayInit acts as a common technical layer, with implementation supported by technology provider Opentech. Customers will continue using their regular banking apps to send funds, while banks gain faster deployment of cross-border P2P services without ceding control of customer relationships, according to Michael Walther, CFO of Viseca and PayInit board president.
The platform supports transfers to cards, bank accounts, or digital wallets, with recipients identified via mobile numbers or email addresses rather than account details. Visa contributes Visa Direct and Visa+, which connects to a network reaching over 18 billion cards, accounts, and digital wallets worldwide. Mastercard provides Mastercard Move and Mastercard Credential Services to enable similar functionality.
Alessandro Seralvo, CEO of Cornèrcard and PayInit board member, highlighted the solution’s ability to facilitate transfers across borders regardless of whether recipients use cards, wallets, or bank accounts. Daniela Massaro, Visa’s Switzerland and Liechtenstein country manager, emphasized consumer demand for seamless, message-like money transfers, noting that Mastercard Move and Credential Services bring this simplicity into trusted digital channels.
PayInit positions itself as an open industry solution, offering Swiss card issuers uniform and scalable access to international P2P payment services while remaining agnostic to the underlying payment network.
