Mastercard and PayInit put Swiss bank P2P transfers on card rails

Swiss card issuers get a shared platform for sending money by phone number or email, routed over Mastercard's money movement rails so transfers can reach recipients abroad as well as at home. What changed Mastercard has joined PayInit AG — an infrastructure company set up by Viseca Payment Services and Corner Bank to pool Swiss card issuers around one P2P platform — together with technology partner Opentech, whose OpenPay Send system embeds the transfer function inside each issuer's own banking app. Two Mastercard services sit underneath: Mastercard Move for the money movement itself, and Mastercard Credential Services so a sender can address a transfer with a mobile number or email instead of a card or account number. The stated intent is to sit alongside existing domestic Swiss P2P options rather than replace them, with the card network supplying the cross-border reach that domestic schemes lack, and issuers joining the shared platform instead of building bilateral integrations.