<img class="m-image-and-caption__image lazyload" alt="Swiss people prefer to use Twint. Debit and credit cards are the most popular in stores. (archive image)” src=”https://production-livingdocs-bluewin-ch.imgix.net/2023/01/26/c0a0d7cc-1750-457b-91ef-f6ec6e5ab780.jpeg?w=994&auto=format” srcset=”https://production-livingdocs-bluewin-ch.imgix.net/2023/01/26/c0a0d7cc-1750-457b-91ef-f6ec6e5ab780.jpeg?w=994&auto=format 994w,https://production-livingdocs-bluewin-ch.imgix.net/2023/01/26/c0a0d7cc-1750-457b-91ef-f6ec6e5ab780.jpeg?w=726&auto=format 726w,https://production-livingdocs-bluewin-ch.imgix.net/2023/01/26/c0a0d7cc-1750-457b-91ef-f6ec6e5ab780.jpeg?w=620&auto=format 620w,https://production-livingdocs-bluewin-ch.imgix.net/2023/01/26/c0a0d7cc-1750-457b-91ef-f6ec6e5ab780.jpeg?w=450&auto=format 450w,https://production-livingdocs-bluewin-ch.imgix.net/2023/01/26/c0a0d7cc-1750-457b-91ef-f6ec6e5ab780.jpeg?w=320&auto=format 320w” data-sizes=”(min-width: 1024px) 994px,(min-width: 768px) 726px,(min-width: 480px) 428px,100vw”/>
Swiss people prefer to use Twint. Debit and credit cards are the most popular in stores. (archive image)
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Swiss people are increasingly turning to their mobile devices to pay for purchases. How the payment market is developing and what advantages and disadvantages the different payment methods offer.
No time? blue News summarizes for you
- blue News makes the big payment method comparison.
- In Switzerland, mobile devices are the preferred means of payment, at 26.8 percent, followed by debit cards and cash payments.
- When paying in-store, the debit card remains the most popular method of payment.
- Twint is the most used mobile payment app in Switzerland, while Apple Pay and Samsung Pay impress with high security standards.
How do Swiss people prefer to pay and what payment methods are there?
blue News answers this question for you. Studies by Comparisthe ZHAW and the University of St. Gallen show that Swiss people prefer to pay with mobile devices.
blue News examines the different payment methods and examines their popularity, security and their application.
The eleventh Swiss Payment Monitor from the ZHAW School of Management and Law (ZHAW) and the Center for Financial Services Innovation at the University of St. Gallen examined payment methods in Switzerland. For this purpose, 1,700 people across Switzerland were surveyed in April and May 2024.
The report shows: In Switzerland, mobile devices such as cell phones, tablets or smartwatches are most often used to pay. Looking at the total number of all transactions, this means compared to the survey 6 months ago:
How do Swiss people most often pay?
- Mobile devices: 26.8 percent (+3.5 percentage points)
- Debit cards: 26.2 percent (-3.1 percentage points)
- Cash payment: 25.7 percent (+0.7 percentage points)
Debit card is the most commonly used payment method in stores
If only payments on site, i.e. in the store, are considered, the debit card remains the most common means of payment:
How do Swiss people pay in stores?
- Debit card: 30.1 percent (-3.7 percentage points)
- Cash: 29.9 percent (+0.7 percentage points)
- Mobile devices: 20.1 percent (+3.8 percentage points)
In the latter case, in addition to Twint payments, which are usually booked directly from the account, payments with e-wallets such as Apple Pay, Samsung Pay or Google Pay, where a debit or credit card is stored, are also counted.
Credit cards benefit from the growth of mobile payments
If we further break down the billing product for an on-site payment, the following distinction emerges: After debit cards and cash, credit cards are in third place with 23.6 percent (+2.0 percentage points). Mobile applications such as Twint, which are charged directly to the account, are in fourth place with 10.8 percent (+3.6 percentage points).
“This shows that paying with Twint, but also with common e-wallet solutions at supermarket checkouts, in clothing stores or in restaurants, is becoming increasingly popular,” says ZHAW payment expert Marcel Stadelmann. “The majority of e-wallets still have credit cards on file, which is why they benefit from the growth of mobile payments.”
Trending online payment methods
The comparison platform Comparis examined the security, popularity and applications of Twint, Apple Pay and Samsung Pay in 2024. One thing is clear: Twint is probably the most popular payment method in Switzerland. The disadvantage is that you can only pay with Twint domestically.
How secure is Apple Pay?
Comparis writes: You approve the payment process with Face ID or Touch ID. The transaction at the payment terminal or in the online shop is encrypted.
Apple protects your credit card information and does not store it on a server or on the device. The dealers also don’t see the full card number.
The greatest risk is if the credit card is stolen: other people can then create their own Apple Pay account and pay with it. Apple Pay is at least as secure as using a conventional credit card.
What do I need for Apple Pay?
An important point about Apple Pay is that customers must own an Apple device. Apple Pay is only available on their devices.
To be able to pay with your device, activate Apple Pay. To do this, you must have your prepaid, debit or credit card activated. This is then stored in the wallet app. With a double click on the lock button the card appears. Now you have to put the cell phone on the terminal.
Do I have to pay fees?
Apple does not charge any additional fees for mobile transactions. The same fees apply to you as with a conventional credit card. These are defined by the editors.
How safe is Twint?
Twint media representative Victor Schmid says: “Observer”: “When opening Twint, it must be confirmed by a code or by facial or fingerprint recognition and the system works in accordance with the security standards of the Swiss banks.” Twint has not had any cases of abuse to date.
What do I need for Twint?
To use Twint, download your bank’s app onto your cell phone. You then connect your bank account or credit card to the app. How exactly you set up Twint depends on the provider.
It runs on all common smartphones, including Android devices. You don’t need a credit card for Twint. The amount staked can also be deducted directly from your bank account. You can also use Twint to transfer money to other people. The biggest disadvantage of Twint: It is not available abroad.
Do I have to pay fees?
The app is free of charge for users. Merchants, on the other hand, give a certain percentage to Twint with every transaction.
In exceptional cases there is a fee for individual services. These include the ticketless parking function and cash withdrawals.
What is Samsung Pay?
Samsung Pay is a mobile payment service via smartphone or smartwatch. With Samsung Pay you store a credit card, debit card or prepaid card. Important: The issuer of your card must enable the use of Samsung Pay.
The Samsung Wallet has been available in Switzerland since 2022 – a digital wallet. It combines Samsung Pay and Samsung Pass, a password storage system. You can store more data in the wallet than in the separate apps.
How secure is Samsung Pay?
You can see from Mastercard’s online page: Every payment is dynamically encrypted. This means your transaction data remains confidential and secure because your card details are not transferred to the merchant. This prevents fraudulent use of your card details.
You keep your Samsung device in your hand the whole time. Your personal information, such as your card number, cannot be seen by bystanders.
Do I have to pay fees?
If you pay with Samsung Pay or your Samsung Wallet, you will not incur any additional fees. You only pay your payment provider’s normal fees.
