2024-01-13 16:41:13
In Switzerland, cash remains a popular means of payment, but this dominance is eroding. While in 2017, 70% of transactions were carried out in cash, this share dropped to 43% in 2020.
Twint gains popularity
The health crisis has increased the popularity of cashless payments, particularly due to concerns regarding the transmission of covid via coins and bank notes.
Many customers have adopted other digital payment methods and this trend has continued, but at a slower pace: according to the latest SNB survey, carried out in autumn 2022, 36% of transactions are still made in cash.
In terms of volume, debit cards have dethroned cash, while payment applications,…
1705194808
#SNB #fighting #save #cash #decline #face #digital #payments
