Cash Acceptance in Switzerland Dropped Since 2023, SNB Says

(Bloomberg) — Fewer Swiss retailers are now accepting cash than two years ago, a Swiss National Bank survey showed.

“In their everyday lives, people are largely still free to choose between different payment methods,” the SNB said in a statement on Thursday that accompanied its bi-annual Payment Methods Survey of Companies.

The survey of some 1,900 firms showed that most accept cash, payment cards and mobile payment apps, the central bank said.

The SNB also reiterated earlier findings that Swiss public transport companies plan to restrict their acceptance of cash, adding that they aim to do so over the next two years.

“Mainly they intend to stop accepting cash payments at ticket machines and in vehicles,” the SNB said. “The most important reason for this is the costs associated with obtaining and returning cash.”

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