A recent survey conducted by the Swiss National Bank has revealed a slight decline in the usage of mobile payment applications over the past year, indicating that cash continues to hold its popularity as a primary payment method. In 2025, payment apps such as Twint and Apple Pay were used in only 17% of transactions, down from 18% in 2024.
The survey showed that 37% of payments were made using debit cards, while cash was used in 30% of transactions, maintaining the same level recorded in the previous year. Marcel Stadlmann, a payment researcher from the University of Zurich, emphasized that people prefer the privacy that cash offers, as some do not wish to leave a digital trace when using payment cards or apps.
Survey Findings and Public Opinion
The results indicate that the majority of survey participants support the continued use of cash, with only 2% of respondents expressing a desire to abolish cash, deeming it impractical or associated with illegal activities. Stadlmann noted that the increased awareness of privacy issues during the COVID-19 pandemic has contributed to this trend towards cash usage.
He also added that the growth of payment apps has stalled because most people in Switzerland already possess these apps and require an additional incentive to use them instead of cash or debit cards. He explained that instant payment requires something that makes the process faster and easier or gives people more control over their spending by providing immediate feedback if they exceed their budget.
Background & Context
Historically, Switzerland has been one of the countries with a strong and reliable banking system, where cash is an integral part of the country's financial culture. Despite technological advancements in the payment sector, Swiss citizens still prefer using cash for many daily transactions. Previous studies have shown that cash provides a sense of security and control over spending, which explains its continued use despite the availability of digital payment options.
Earlier this month, the Swiss National Bank announced new banknote designs set to be introduced in the 2030s. This move reflects the bank's commitment to maintaining cash as a primary payment method, even amid rapid technological developments.
Impact & Consequences
These findings suggest that the shift to digital payments may not be as swift as anticipated, as cash continues to retain its position in Swiss society. This trend may affect businesses that rely on digital payments, as they may need to reassess their strategies to attract customers who prefer cash.
Additionally, these results raise questions about the future of payment apps in other European markets, where they may face similar challenges in adapting to consumer preferences. With growing concerns about privacy and security, companies may need to develop innovative solutions that meet consumer needs.
Regional Significance
In the Arab region, cash remains the most common payment method, despite the increasing use of digital applications. Switzerland's experience reflects the importance of understanding consumer preferences when developing payment strategies. Arab countries could benefit from studying these results to develop payment solutions that align with the needs of their citizens, thereby enhancing trust in digital financial systems.
In conclusion, it appears that cash will remain a fundamental part of the financial system in Switzerland for the foreseeable future, reflecting deep cultural preferences. As technological advancements continue, it will be essential to monitor how consumers interact with these changes.