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

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 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

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

If you compare the individual sectors based on their total revenue, the services sector proves to be particularly successful. The 132 Payrexx merchants in this sector together achieved a transaction volume of around 54 million Swiss francs. Retail follows in second place with 30 million Swiss francs, closely followed by the travel sector with 27 million Swiss francs.

As Payrexx data show, Swiss buyers 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%).

If you take a look at international transactions, the data paint the following picture: Mastercard is in first place with 45 per cent usage, Visa in second place with 39 per cent and American Express in third place with 6 per cent.

Five important milestones

In addition to the well-known domestic payment methods, country-specific and international ones are also steadily gaining importance 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 provide its merchants with a broad range of payment methods. Accordingly, the offering was further expanded in 2024 in the following ways, among others:

• Payrexx QR Pay: The innovative product was complemented by free stickers and table stands. This significantly expands the most popular payment method among the Swiss, namely via TWINT. With Payrexx's 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 on the trend from Germany, where online shoppers prefer to pay by instant bank transfer from their bank account. Customers from Germany can now also shop with Swiss merchants seamlessly, quickly and securely.

• Discover® Global Network: As the first Swiss payment provider, Payrexx has opened up access to this globally active network. Merchants now have the possibility to receive payments with one of the many cards in the Discover Global Network, including the well-known Discover® Card and Diners Club International®.

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

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

Payrexx invests substantially and continuously in the further development of its products and services. Only through continuous innovation is it possible to expand the lead over the competitors and to move merchants and their companies forward. As confirmation of these efforts, Volkswirtschaft Berner Oberland awarded Payrexx the 2024 Innovation Award – 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 set to be released in the coming weeks. This turns any NFC-capable Android device into a payment terminal – very simply and, compared with conventional card readers, particularly cost-effective.

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, which helps 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, at Payrexx it is part of everyday life to celebrate the small successes too. Finally, the following points should therefore be highlighted positively: