2024 was a historic year for Swiss online commerce. According to the study “Internet Usage and E-Commerce Switzerland 2024” by the Research Center for Retail Management at the University of St. Gallen, e-commerce sales in Switzerland reached 18 billion francs – a sum that not only surpasses all previous years but also the peak values during the COVID-19 pandemic.

The figures from Payrexx also confirm this trend. The leading Swiss payment provider for SMEs based in Thun supports around 60,000 merchants worldwide, including well-known Swiss companies such as BKW, Carvolution, Zweifel Pomy-Chips, Hotelcard, or Selecta. In addition, numerous SMEs, non-profit organizations, and clubs rely on Payrexx's intuitive payment solutions.

These are the most used payment methods

In 2024, all Payrexx merchants together achieved a transaction volume of 805.6 million francs. This corresponds to an increase of 31 percent compared to the previous year, with Payrexx having experienced above-average growth compared to the industry as a whole. The aforementioned study by the University of St. Gallen attributes industry growth to a higher number of Swiss users and an increasing spending amount. So not only are more people buying online, but they are also willing to spend more money doing so.

When comparing individual industries based on their total sales, the service sector proves to be particularly successful. The 132 Payrexx merchants in this sector together reached a transaction volume of around 54 million Swiss francs. In second place is the retail sector with 30 million Swiss francs, closely followed by the travel industry with 27 million Swiss francs.

As Payrexx's data shows, Swiss shoppers prefer to pay online with TWINT. Around 60 percent of all transactions were processed using this payment method, followed by Mastercard (20%) and Visa (16%).

Looking at international transactions, the data shows the following picture: Mastercard is in first place with 45 percent usage, Visa is in second place with 39 percent, and American Express is in third place with 6 percent.

Five important milestones

In addition to the well-known domestic payment methods, country-specific and international ones are also gaining significance for Swiss merchants. For customers from the Asian region, for example, Payrexx offers the payment method WeChat Pay, which is particularly popular in China. The Swiss payment provider is always striving to provide its merchants with a wide range of payment methods. Accordingly, the offering was further expanded in 2024 to include, among others, the following methods:

• Payrexx QR Pay: The innovative product was supplemented with free stickers and table displays. This greatly expands the most popular payment method among the Swiss, namely via TWINT. With Payrexx QR codes, customers can pay not only via the TWINT app but with all popular payment methods.

• “Pay by Bank”: This new payment method picks up the trend from Germany, where online shoppers prefer to pay by real-time bank transfer. This allows customers from Germany to shop seamlessly, quickly, and securely with Swiss merchants as well.

• Discover® Global Network: As the first Swiss payment provider, Payrexx has tapped into this globally active network. Merchants now have the option to accept payments with one of the many cards of the Discover Global Network, including the well-known Discover® Card and Diners Club International®.

• Click to Pay with Visa: This new feature allows buyers to securely store their credit cards and make future purchases with just a few clicks – for a faster checkout and fewer cart abandonments.

• POS Terminal Pilot Phase: Already over 60 merchants throughout Switzerland are using the modern card readers that Payrexx launched as part of a controlled test phase. After a successful test phase, the product will soon be available to all merchants.

Payrexx invests substantially and continuously in the further development of its products and services. Only through continuous innovation can the lead over competitors be expanded and merchants and their businesses advanced. As confirmation of these efforts, the Berner Oberland economics awarded Payrexx with the Innovation Prize 2024 – a momentous occasion for the entire Payrexx family!

Upcoming projects and small successes

In the current fiscal year 2025, Payrexx remains focused on the success and well-being of its merchants. Thus, one of the first projects will be the release of the new Tap to Pay application in the coming weeks. This transforms any NFC-enabled Android device into a payment terminal – very simply and especially cost-effectively compared to traditional card readers.

The release of this new product is intended to bring the Swiss payment provider a significant step closer to fulfilling its vision: Payrexx aims to become the leading omnichannel payment provider in Switzerland, aiding SMEs to succeed through innovative and seamless payment solutions. In addition to various growth projects, the company will also focus on its core business – after all, it is standard at Payrexx to celebrate even small successes. In conclusion, the following points should be highlighted positively: