Debit Cards Surpass Cash as Preferred Payment Method in Switzerland

A new study by the Swiss National Bank (SNB) reveals that debit cards have overtaken cash as the most frequently used payment method at physical point-of-sale (POS) locations in Switzerland. The findings come from a survey of 2,000 adults, who recorded their daily transactions in a payment diary over one week.

The research highlights a continued shift toward cashless payments, with debit cards now leading as the top choice for in-store purchases. Mobile payment apps are also gaining traction, accounting for nearly 20% of POS transactions—a sign of growing digital payment adoption.

Despite the decline in cash usage, 95% of Swiss consumers still want cash to remain available as a payment option. Cash remains most popular among older adults (55+) and lower-income groups, who value the spending visibility and privacy it provides.

The SNB’s findings align with broader European trends favoring digital transactions, though Switzerland’s strong cash tradition ensures it remains a key part of the payment landscape.