Swiss to vote on preserving cash as a payment system

On March 8, the Swiss will decide whether the availability of cash should be enshrined in the constitution. A popular initiative and the government’s counterproposal are both on the ballot. An explainer. How do the Swiss use cash currently? According to a recent study by the Swiss National Bank (SNB), Swiss residents are moving away from using cash. In 2017, more than seven out of ten people paid with cash at kiosks, restaurants, and shops. In 2024, only three out of ten did so, and among those aged 15 to 34, fewer than two in ten used cash. Debit cards, credit cards, and digital apps – especially Twint, a Swiss payment app – are increasingly popular. Until relatively recently, many people settled their household bills in cash at the post office. But digital payments have now reduced those cash remittances to less than 1% of post-office transactions. Although the Swiss are using cash less, they don’t like the idea of it disappearing. Over two-thirds of those surveyed by the SNB ... Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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