Swiss cling on to cash as survey shows payment app use stalling

Mobile payment app usage stalled in Switzerland last year, a Swiss National Bank survey showed on Monday, with cash remaining popular as a way of paying for goods and services in person.

A large majority of respondents in the survey were in favour of the continued use of cash, with only 2% keen to abolish it, saying it is impractical or used for illegal activities.

Mobile payment apps such as Switzerland's Twint or Apple Pay AAPL.O were used in 17% of transactions in 2025, the SNB study showed, down from 18% in 2024.

Debit cards remained the most popular payment means, used in 37% of purchases, followed by physical cash which was exchanged in 30% of in-person transactions, the same level as in 2024.

"People like the anonymity of cash," said Marcel Stadelmann, a payments researcher at the Zurich University of Applied Sciences, adding: "Some people do not like leaving a trace in the digital world when they pay with cards or mobile apps".

Stadelmann cited COVID-19-era government measures which made some people more aware of privacy issues.

Payment apps growth appears to have stalled because most people in Switzerland already have them and they need an extra trigger to use them over debit cards or cash, Stadelmann added.

"With instant payments, it needs to be something that makes payments quicker, easier, more convenient, or gives people more control over their spending by giving immediate feedback if they've overspent," he said.

The SNB this month unveiled the designers for its next banknotes, which are due to enter circulation in the 2030s.

Stadelmann said people liked the act of spending cash, as well as feeling they had control over it.

"Physical cash will remain important in Switzerland for some time," he said.

-Reporting by John Revill; Editing by Alexander Smith/Reuters