TWINT (Switzerland)

[smagpro]

Payment methods are evaluated very carefully before being added to Bisq. Poorly integrating a payment method, or integrating a payment method that's not a good fit for Bisq's trading protocol, can be costly mistakes for Bisq's users and dispute resolution mechanisms.

As a result, we request that you add responses to the following questions so that we can better consider your suggestion.

Please answer to the best of your ability. The more thorough you can be, the more you'll help us out, and the quicker your suggestion can be evaluated and implemented.

Why

Why would Bisq benefit from adding this payment method? Is is popular in a particular region? More convenient? More safe?

TWINT is very popular in Switzerland (4 Mio+ users)

Region

In which areas of the world can this payment method be used?

Switzerland

Currencies

What currencies is this payment method for?

CHF

Chargeback risk

How easy is it to cancel a payment once it's made? This is the most important characteristic of a payment method.

No chargeback possible

Size of user base

Do you know how many people use this payment method?

4 million (https://de.wikipedia.org/wiki/Twint)

Data requirements

What information must a user provide to a counterparty to accept a payment?

Swiss phone number

Verification

How can payments be verified? Examples: TLSNotary is typically used for electronic payments, and receipt scans are typically used for money orders.

TWINT works exclusively with an iPhone/Android app, payments could be verified with screenshots from within the app I'd say

Duration

How long do payments take? Please provide a range, as the advertised best-case scenario rarely accounts for edge cases.

instant. The payments are tied in the background to an existing Swiss bank account of the user. Therefore it is 100% sure (Swiss phone number + Swiss bank account) that TWINT users are legit.

Fees

Does it cost anything to make a transfer using this payment method? If so, how much?

no fees.

Fraud risk

How easy or difficult is fraud with this payment method?

Very difficult I'd say, though I'm not an expert ;-)

Payment amounts

What is the minimum or maximum amount you can send with this payment method?

It depends on the underlying bank account, but usually a couple of hundred to thousands Swiss Francs.

Payment description

Can a note be added when sending payment with this payment method (would be useful to include the Bisq trade ID)?

yes

[pazza83]

Hi @smagpro thanks for opening this. Will add it to my list of payment methods to look into and get back to you.