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Mobile Payment Extends its Leading Position

Almost one in three payments in Switzerland is made using a mobile device such as a cell phone, tablet, or smartwatch. However, cash is once again number one for on-site payments, as the latest "Swiss Payment Monitor" shows.

In Switzerland, mobile devices such as cell phones, tablets, and smartwatches are the most common means of payment. In addition to Twint payments, which are usually debited directly from the purchaser's account, this includes e-wallets such as Apple Pay, Samsung Pay, and Google Pay, which store debit or credit card details. The following payment method shares relate to the total number of all transactions (with May 2024 figures in brackets for comparison):

  1. Mobile devices: 30.7% (+3.9% points)
  2. Debit card (non-mobile use): 24.4% (-1.8% points)
  3. Cash payment: 24.2% (-1.5% points)

When looking at sales as an indicator, credit cards are in third place ahead of cash payments:

  1. Mobile devices: 25.6% (+2.2% points)
  2. Debit card (non-mobile use): 24.0% (+1.0% points)
  3. Credit card (non-mobile use): 23.8% (+2.0% points)

These three payment methods now account for almost three quarters of sales, as the share of sales accounted for by cash (-3.7% points) and bills (-2.4% points) fell significantly. These are the findings of the twelfth Swiss Payment Monitor conducted by the ZHAW School of Management and Law and the University of St. Gallen. In October and November 2024, 1,700 people were surveyed throughout Switzerland.

Cash is the most commonly used means of payment in brick-and-mortar stores

When considering in-person payments at physical stores, cash has once again overtaken debit cards as the most frequently used means of payment. However, this is only because its relative use has declined less sharply: 

  1. Cash: 28.2% (+1.7% points)
  2. Debit card (non-mobile use): 28.0% (+2.1% points)
  3. Mobile devices: 24.4% (+4.3% points)

When broken down according to the billing product of a local payment, the debit card remains the leader with a share of 33.7 percent, ahead of cash (28.2%), credit cards (22.4%), and Twint payments, which are charged directly to the customer's bank account (11.6%). “As the new generation of debit cards can also be stored in e-wallets such as Apple Pay, Samsung Pay, and Google Pay, mobile payments are increasingly being made by debit card, especially in physical stores,” explains ZHAW payment expert Marcel Stadelmann. 

Even the smallest amounts are often paid using a mobile device

An important factor in the choice of payment method is the amount being paid. The proportion of cash payments is highest for sums under CHF 20 but decreases as the figure increases. However, this trend is exactly the opposite for credit cards and invoices, with credit cards most frequently used for amounts over CHF 500. Mobile payment is extremely popular, regardless of the figure involved. “In the latest survey, for the first time, even amounts under CHF 5 were paid more frequently with a mobile device than by cash,” explains Tobias Trütsch, payment economist at the University of St. Gallen.

Download the report

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(PDF 650,8 KB)

Swiss Payment Monitor

The Swiss Payment Monitor is published every six months to provide an up-to-date picture of developments in the payment behavior of residents of Switzerland. It was published for the first time in 2018 and is based on representative survey data from an online and diary survey as well as public data from the Swiss National Bank. Between the end of October and mid-November 2024, around 1,700 people aged 18 or over from the three main language regions of the country were surveyed on a representative basis about their payment habits and attitudes towards new means of payment. The Swiss Payment Monitor is published by the Swiss Payment Research Center at the ZHAW School of Management and Law and the Swiss Payment Behaviour Lab at the University of St. Gallen. The study is financed by the two research institutions, the Swiss Payment Association (the industry organization for all major Swiss issuers of credit cards on behalf of the international card organizations), and industry partners Nexi and Worldline.

 

Contacts

  • Dr. Marcel Stadelmann, Senior Researcher, ZHAW School of Management and Law, Phone +41 58 934 46 46, e-mail: marcel.stadelmann@zhaw.ch
  • Dr. Tobias Trütsch, Managing Director, Center for Financial Services Innovation, University of St. Gallen, Phone +41 71 224 71 55, e-mail: tobias.truetsch@unisg.ch

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