In 2023, debit cards ranked ahead of cash and credit cards as the most popular payment method.
In Switzerland, both cash, and debit/credit cards are commonly used for transactions, but the country has been gradually shifting towards becoming more cashless in recent years. Cash is still in second place after debit cards, with credit cards in third place in 2023. Cash is still frequently used for smaller purchases like groceries from local markets or payments at smaller shops and cafes. Swiss francs (CHF) are the official currency, and ATMs are widely available for cash withdrawals.
Debit cards (EC cards) are highly popular, have been on the 1st place in 2023, and widely accepted for payments at most stores, restaurants, and larger establishments. Credit cards, especially Visa and Mastercard, are also commonly used, though American Express and other less common cards might have less widespread acceptance often due to higher fees as it is the case with AmEx.
Contactless payment methods, such as NFC-enabled cards or mobile payment services like Apple Pay and Google Pay, are gaining traction in Switzerland, with many businesses offering these options for faster and more convenient transactions.
For online purchases and larger transactions, debit and credit cards are the preferred payment methods. Swiss consumers are increasingly comfortable with online shopping, making card payments prevalent for e-commerce transactions.
In tourist areas and major cities, card acceptance is generally high, and visitors can expect to use their cards for most transactions. However, having some cash on hand is advisable, especially for smaller purchases or in more remote areas where card acceptance may be limited.
Overall, while cash remains a common payment method in Switzerland, especially for smaller transactions, debit and credit cards are increasingly favored for their convenience and security. It's beneficial to have a mix of payment options to ensure you can pay for goods and services regardless of the situation.