Why are Swiss consumers still choosing cash over payment apps?

Mobile payment app usage in Switzerland stalled last year, with the share of transactions made via apps slipping to 17% in 2025 from 18% in 2024, according to a Swiss National Bank (SNB) survey reported by Reuters.

Debit cards remained the top choice at 37% of purchases, while physical cash held steady at 30% of in-person transactions.

A large majority of respondents backed the continued use of cash, and only 2% favoured abolishing it.

What the SNB survey shows

The SNB study found that mobile apps such as Switzerland's Twint or Apple Pay were used in a smaller share of payments compared with the prior year.

That suggests momentum has cooled after rapid uptake in recent years.

Despite the wide availability of mobile options, cards and cash continued to dominate day-to-day spending.

The survey also indicated strong public support for keeping banknotes in circulation.

Why cash still appeals

"People like the anonymity of cash," said Marcel Stadelmann, a payments researcher at the Zurich University of Applied Sciences, in comments reported by Reuters.

"Some people do not like leaving a trace in the digital world when they pay with cards or mobile apps."

Stadelmann pointed to government measures during the COVID-19 period as a moment when some became more aware of privacy.

He added that people also enjoy the act of paying with notes and coins and feel they have control over it.

What could shift behavior

Stadelmann said growth in payment app usage appears to have stalled because most people in Switzerland already have them, and many need a clear reason to switch from cards or cash.

"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.

Banknotes remain part of the plan

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

The move underscores that cash remains a planned part of the payments landscape.

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

Switzerland’s payment mix shows resilience of cash and the primacy of debit cards, while mobile app usage has plateaued.

Any shift toward higher app adoption may depend on clear, tangible gains in speed, convenience, or spending control.