Strategy by Didier Bonnet Published 12 February 2025 in Strategy • 6 min read Switzerland’s digital payment app TWINT has over five million users and is a household name, but the journey to profitability was unusually arduous. Executive Chairman Søren Mose shares the secrets of his success in this second IMD Nordic Executive Dialogue. When Søren Mose was asked to become executive chairman of Swiss mobile payment app TWINT, which was formed from the merger of two competing apps in 2016, he replied with a firm, “Thank you, but no thank you.” When asked why, he told PostFinance, the owner of the app’s developer, Monexio, “This is going nowhere, because I don’t believe you have the stomach to do what is necessary.” As a Danish national, the veteran investment banker and financial services expert “loved mobile payment” because the Scandinavian countries were far advanced in their use of mobile payments compared to relatively small (and conservative) Switzerland, where having two competing systems was “pure stupidity – it’s winner-takes-all.” Before agreeing (eventually) to join the project, he lobbied successfully behind the scenes for the two companies to merge. But they had no transactions and the headlines were “very bad.” As […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
