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Switzerland’s latest Payment Methods Survey reveals a continued shift from cash to cashless payments, with debit cards now the most frequently used method at physical points of sale.
The survey, undertaken by the Swiss National Bank (SNB), found that mobile payment apps are also gaining traction, accounting for nearly one in five in-person transactions.
This may in part be due to use of local mobile payment app Twint, which has been operating since 2014.
Despite the rise of digital payments, cash remains highly valued, and an overwhelming majority — 95 percent — of Swiss residents want to keep cash as a payment option, with only a small minority supporting its abolition.
The survey, conducted in Autumn 2024, included around 2,000 participants who shared insights on their payment behaviour via interviews, online questionnaires and a one-week payment diary.
