An evaluation of which mobile-payment solution is Switzerland's answer to rivals from abroad has yielded a result: Twint won the race, and Paymit's will be integrated.

The solution sounds reasonable: competing Swiss mobile-payment systems Twint and Paymit will be merged under the umbrella of Twint, the two companies said in a statement today.

Credit Suisse, Postfinance, Raiffeisen, UBS and Zuercher Kantonalbank all were part of the solution, together with Swiss exchange SIX, the retail giants Coop and Migros and communications company Swisscom.

Postfinance's Baby

Postfinance originally launched Twint, while Paymit was a rival product backed by SIX, UBS and Zuercher Kantonalbank. The companies which participated in finding a Swiss solution agreed to work with a joint mobile-payment system that combines the advantages of both Twint and Paymit. Thierry Kneissler (pictured below), the CEO of Twint, will also manage the new system provider.

Thierry Kneissler 500

The Swiss solution will face strong competition from abroad: Apple, Samsung and Google all developed their own payment systems, which soon will be launched in Switzerland.