The five-franc in the bag, a nötli in your wallet, that’s how you get through life! This saying of the generation of grandparents is becoming less and less important. The love for cash is waning in Switzerland, as the representative study of payment methods 2022 by the comparison service Moneyland.ch shows.
The number of Swiss people for whom cash is absolutely indispensable is getting smaller and smaller. Specifically: Last year it shrank from 34 to 30 percent. 67 percent of the 1,500 respondents stated that they would rather not or not at all be able to do without cash.
One in four cannot do without a credit card
Cash is increasingly being replaced by debit and credit cards. 71 percent of those surveyed consider them to be somewhat or completely indispensable. 28 percent of the study participants say that they could not do without a debit card at all. One in four can no longer do without their credit card.
“Debit cards are now used more frequently in Switzerland than cash,” observes Benjamin Manz, CEO of moneyland.ch. “For many Swiss people, the card has long been the first choice.”
This also applies to stationary retail, for example when shopping in Quartier-Migros. 96 percent state that they pay with cash. Only about a third (34 percent) say they do it several times a week or more. In contrast, at 54 percent, more than half of the population often uses a debit card in-store.
Credit cards rule online
Credit cards are the most popular means of payment for online purchases. It is true that 84 percent more Swiss people say that they shop online at least occasionally on account than is the case with credit cards (80 percent). But 13 percent of the population uses a credit card on the Internet several times a week or more. This is followed by Twint and debit cards with 8 percent – only then the good old bill with 7 percent.
