Bär & Karrer with Viseca on the establishment of PayInit

Bär & Karrer advised Viseca Payment Services on its joint initiative with Cornèr Bank to develop PayInit, a P2P money transfer infrastructure for worldwide instant transfers between people, based on Mastercard and Visa payment cards.

The initiative will enable customers of affiliated payment solution providers to send money from payment cards in Switzerland to other payment cards, wallets or bank accounts worldwide.

The Bär & Karrer team

The Bär & Karrer team working on the matter included Daniel Flühmann (pictured), Marlene Lienau Schindler (both corporate/M&A), Mani Reinert (competition law), Özden Omürcan (notarial services), as well as Markus Wang (IP/IT).