2024 was a historic year for Swiss e-commerce. According to the study “Internet Usage and E-Commerce Switzerland 2024” by the Research Center for Trade Management at the University of St. Gallen, e-commerce sales in Switzerland reached 18 billion Swiss 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 service provider for SMEs based in Thun supports around 60,000 merchants worldwide, including well-known Swiss companies like BKW, Carvolution, Zweifel Pomy-Chips, Hotelcard, or Selecta. Additionally, numerous SMEs, non-profit organizations, and associations rely on Payrexx's intuitive payment solutions.

These are the most used payment methods

All Payrexx merchants together achieved a transaction volume of 805.6 million Swiss Francs in 2024. This corresponds to an increase of 31 percent compared to the previous year, with Payrexx growing above average in the industry comparison. The aforementioned study by the University of St. Gallen attributes the industry's growth to a higher number of Swiss users as well as an increasing spending amount. Therefore, not only are more people shopping online, but they are also willing to spend more money in the process.

Comparing the individual sectors based on their total turnover, the service sector proves to be particularly successful. The 132 merchants belonging to it achieved a combined transaction volume of around 54 million Swiss Francs. In second place is retail with 30 million Swiss Francs, followed closely by the travel industry with 27 million Swiss Francs.

As Payrexx data shows, Swiss buyers prefer to pay online using 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 leads with 45 percent usage, Visa with 39 percent is in second place, and American Express with 6 percent is in third place.

Five important milestones

In addition to the well-known domestic payment methods, country-specific and international ones are also gaining importance 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 broad range of payment methods. Accordingly, the offer was further expanded in 2024 to include the following methods:

• Payrexx QR Pay: The innovative product was supplemented with free stickers and table displays. In this way, the most popular payment method of the Swiss, via TWINT, is significantly expanded. 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 the trend from Germany, where online buyers prefer to pay by real-time transfer from their bank account. Thus, customers from Germany can now shop seamlessly, quickly, and securely with Swiss merchants.

• Discover® Global Network: As the first Swiss payment provider, Payrexx has tapped into this globally operating network. Merchants now have the opportunity to accept payments with one of the many cards from the Discover Global Network, including the renowned 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 shopping cart abandonments.

• POS Terminal Pilot Phase: Already over 60 merchants nationwide are using the modern card readers, which Payrexx launched as part of a protected test phase. After a successful test phase, the product will soon be available for all merchants.

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

Upcoming projects and small successes

In the current fiscal year 2025, Payrexx's focus remains on the success and well-being of its merchants. Therefore, as one of the first projects, the new Tap to Pay application is to be released in the coming weeks. This application transforms any NFC-capable Android device into a payment terminal – very simply and particularly cost-effective compared to traditional card readers.

The release of this new product should bring the Swiss payment provider a significant step closer to fulfilling its vision: Payrexx aims 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, it's part of everyday life at Payrexx to celebrate the small successes as well. Finally, the following points should be positively highlighted: