Indonesia vs Switzerland · Real-time payment systems compared
| Capability | QRIS | TWINT |
|---|---|---|
| QR Code Payments | ✓ | ✓ |
| Wallet Support | ◐ | ✓ |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | ◐ | — |
| ISO 20022 | — | — |
| Request to Pay | — | ✓ |
| Open API | ◐ | ◐ |
| Alias/Proxy | — | ✓ |
Indonesia's national QR code standard (Quick Response Code Indonesian Standard) that unifies QR payments across banks, e-wallets (GoPay, OVO, Dana, ShopeePay), and the BI-FAST rail into a single interoperable code. Unlike most payment systems that are a single rail, QRIS is a multi-rail standard — merchants display one QR code that consumers can scan with any participating app, with settlement happening through whichever rail the consumer's app uses. Mandated by Bank Indonesia, QRIS processed 34B+ transactions in 2024 and is central to Indonesia's financial inclusion strategy for its 17,000-island archipelago.
Switzerland's dominant mobile payment app for P2P transfers, in-store QR payments, and e-commerce checkout, used by 5M+ Swiss residents (over half the population). Operated by TWINT AG — a joint venture of major Swiss banks (UBS, Credit Suisse/UBS, ZKB, Raiffeisen, PostFinance) and SIX Group — it works through individual bank apps or the standalone TWINT app. Unlike card networks, TWINT settles directly between bank accounts with low merchant fees. It has become Switzerland's answer to mobile payment systems, competing with Apple Pay and Google Pay in the Swiss market.