Cash No Longer Is Switzerland’s Top Payment Method, SNB Says (1)

Debit cards just overtook bills and coins as the most widely used payment method in Switzerland in a sea change for an economy that long stood out from peers for its obsession with cash.

Some 35% consumer transactions in stores were settled by card last year, with physical money accounting for 30%, according to a Swiss National Bank survey published Tuesday. That compares with 21% and 70% respectively in 2017. Another 18% were settled using mobile payment apps and 14% via credit cards.

“International comparisons show that German-speaking countries in particular are very attached to cash, unlike the Netherlands ...