2024 was a historic year for Swiss online retail. According to the study “Internet Use and E-Commerce Switzerland 2024” by the Research Center for Trade Management at the University of St. Gallen, e-commerce revenue in Switzerland reached CHF 18 billion – a sum that not only surpasses all previous years, but also the peak values during the coronavirus 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 prominent Swiss companies such as BKW, Carvolution, Zweifel Pomy-Chips, Hotelcard and Selecta. In addition, numerous SMEs, non-profit organisations and associations rely on Payrexx’s intuitive payment solutions.

These are the most used payment methods

All Payrexx merchants together generated a transaction volume of CHF 805.6 million in 2024. This corresponds to an increase of 31 per cent compared with the previous year, meaning Payrexx grew above average in a sector-wide comparison. The aforementioned study by the University of St. Gallen attributes industry growth to a higher number of Swiss users as well as a higher amount spent. So not only are more people shopping online, they are also willing to spend more money doing so.

If you compare the individual industries by their total revenue, the service sector proves particularly successful. The 132 Payrexx merchants in this sector together achieved a transaction volume of around CHF 54 million. Retail ranks second with CHF 30 million, closely followed by the travel industry with CHF 27 million.

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

Looking at international transactions, the data paints the following picture: Mastercard ranks first with 45 per cent usage, Visa second with 39 per cent and American Express third with 6 per cent.

Five important milestones

In addition to the well-known domestic payment methods, country-specific and international methods are also becoming increasingly important for Swiss merchants. For customers from Asia, for example, Payrexx offers WeChat Pay, a payment method particularly popular in China. The Swiss payment provider is always striving to make a broad range of payment methods available to its merchants. Accordingly, the offering was further expanded in 2024 to include the following methods, among others:

• Payrexx QR Pay: The innovative product was supplemented with free stickers and table stands. This significantly 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 via instant bank transfer from their bank account. This now also allows customers from Germany to shop seamlessly, quickly and securely with Swiss merchants.

• Discover® Global Network: As the first Swiss payment provider, Payrexx has opened up this worldwide network. Merchants now have the opportunity to receive payments with one of many cards from 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 abandoned carts.

• POS terminal pilot phase: More than 60 merchants across Switzerland are already using the modern card readers launched by Payrexx as part of a protected test phase. After a successful test phase, the product will be available to all merchants as soon as possible.

Payrexx invests substantially and continuously in the further development of its products and services. Only through constant innovation is it possible to expand the lead over competitors and help merchants and their businesses move forward. As confirmation of these efforts, the Berner Oberland regional economy awarded Payrexx the Innovation Award 2024 – a significant moment for the entire Payrexx family!

Upcoming projects and small successes

In the current 2025 financial year, Payrexx continues to focus on the success and well-being of its merchants. As one of the first projects, the new Tap to Pay application is therefore scheduled to be released in the coming weeks. This turns any NFC-enabled Android device into a payment terminal – very easily and, compared with conventional card readers, particularly cost-effectively.

The launch of this new product is intended to bring the Swiss payment provider a significant step closer to fulfilling its vision: Payrexx wants to become the leading omnichannel payment provider in Switzerland, helping SMEs succeed through innovative and seamless payment solutions. In addition to various growth projects, the company will also focus on its core business – after all, celebrating small successes is part of everyday life at Payrexx. Finally, the following points should therefore be highlighted positively: