Bär & Karrer advises Viseca on its
joint initiative with Cornèr to develop
a global P2P money transfer solution

Viseca Payment Services SA and Cornèr Bank Ltd. have teamed up to develop an industry solution for worldwide instant transfers between people based on payment cards. To this end, the two companies founded PayInit AG, aimed at establishing an infrastructure for global P2P money transfers based on Mastercard and Visa payment cards. The new industry solution 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.

Bär & Karrer acted as legal counsel to Viseca in connection with the structuring and establishment of PayInit AG. The team included Daniel Flühmann, Marlene Lienau Schindler (both Corporate/M&A), Mani Reinert (Competition Law), Özden Omürcan (Notarial Services), as well as Markus Wang (IP/IT).