- Italian fintech Opentech will power a new peer-to-peer money transfer solution under development by Viseca Payment Services and Cornèr Bank.
- Viseca and Cornèr Bank will leverage Opentech’s OpenPay Send technology, an all-in-one platform that orchestrates card-based transfers across multiple schemes and endpoints.
- Opentech most recently demonstrated its technology at FinovateEurope 2026 in London. Stefano Andreani is Founder and CEO.
Viseca Payment Services and Cornèr Bank have teamed up to develop a new open industry solution for international peer-to-peer money transfers leveraging Mastercard and Visa payment cards. The new offering, PayInit AG, will streamline direct, cross-border transfers between individuals, enabling them to send money from their payment cards to other cards, digital wallets, and bank accounts.
The two companies will also create a recipient directory (alias directory) to allow end customers of participating card issuers and mobile payment solution providers to send money directly to each other using phone numbers or email addresses from the directory.
“With PayInit, we are creating the foundation for worldwide P2P money transfers based on Swiss payment cards,” Viseca CFO and Chairman of the Board of Directors of PayInit AG, Michael Walther, said. “This closes an important gap in the Swiss payment card market and opens up new opportunities for the entire industry.”
To this end, the two firms have selected Opentech as their technology partner for the project. Opentech, which most recently demoed its technology at FinovateEurope 2026 in London, is a specialist in providing digital services for banks and other financial services providers, and will bring its OpenPay Send technology to Viseca and Cornèr Bank’s new initiative. OpenPay Send is an all-in-one money transfer solution that combines money movement and alias directory services from leading payment networks to deliver a modern P2P and cross-border payment experience for customers. OpenPay Send enables fast and secure money transfers to billions of endpoints around the world, including bank accounts, cards, wallets, and cash-out locations.
“The mission of PayInit AG aligns perfectly with the core values of Opentech: making payments more accessible, interoperable, and simpler,” Opentech Chief Executive Officer and Founder Stefano Andreani said. “As a technological innovation driver through the OpenPay Send platform, Opentech supports another initiative that once again demonstrates the Swiss financial sector’s role as a global pioneer while creating genuine value for all stakeholders.”
The commercial launch of the PayInit AG solution is slated for the end of 2026. The collaboration comes months after Viseca and Opentech announced a strategic partnership designed to deliver new cross-border, peer-to-peer money transfer options for the Swiss market.
A Finovate alum since 2013, Opentech supports digital transformation for banks and card issuers with secure, compliant, and scalable payment solutions. Most recently, at FinovateEurope 2026, the company demonstrated how its OpenPay for Merchants (O4M) solution embeds Buy Now, Pay Later functionality directly into the merchant digital channels, across merchant apps and checkout journeys. O4M boosts conversion and engagement for merchants, and provides banks with a distribution channel to deliver consumer financing options to pre-engaged customers at the moment of purchase. Founded in 2003, Opentech is headquartered in Rome, Italy.
Viseca is a product and service provider in the cashless payments field, issuing both payment cards via Viseca Card Services and providing services to support the card business for issuers via Viseca Payment Services. Founded in 1999 and headquartered in Zurich, Switzerland, Viseca is owned by major Swiss and cantonal and retail banks, including all cantonal banks, the Raiffeisen Group, Entris Banking, Migros Bank, Bank Cler, regional banks, and private/commercial banks.
Founded in 1952, the Cornèr Group is a private and independent Swiss banking group that offers the services of a universal bank. These services include private banking, credit financing, credit and prepaid cards (Visa, Mastercard, and Diners Club under the Cornèrcard brand), and online trading (Cornèrtrader). The group consists of parent company Cornèr Bank AG in Lugano, Switzerland, as well as its subsidiaries Cornèr Bank (Overseas) Limited, Cornèr Europe AG, Finpromotion SA, and Allegra Vermögensverwaltungs AG.
Photo by Henrique Ferreira on Unsplash
