Mobile Payments Rise in Switzerland While Card Usage Loses Ground

Mobile payments continue to gain traction in Switzerland, while debit and credit cards usage is declining, according to new research by the Swiss Payment Research Center (SPRC) at the ZHAW School of Management and Law, and the Center for Financial Services Innovation at the University of St. Gallen.

Notably, mobile payments surpassed debit cards for in-store transactions in 2026, while remaining the top payment method for remote transactions.

The study, which surveyed more than 1,100 people in April and May 2026 to analyze the changes in payment behavior between November 2025 and May 2026, revealed that mobile payments are expanding their lead as the most-used payment method in Switzerland.

In May 2026, mobile payments accounted for 34.5% of transactions, marking a 3.1-point increase compared to the previous edition of the Swiss Payment Monitor (SPM) report released in early 2026 (SPM 1/2026). This report polled Swiss residents in Q4 2025.

During this period, the share of credit cards declined noticeably, dropping 2.7 points between November 2025 and May 2026 to 14.5%. Similarly, the use of debit cards declined as well, accounting for 22.5% of transactions in May 2026, down 1.3 points from November 2025.

Mobile payments emerge as the leading payment method for in-store transactions

Notably, mobile payments made a significant breakthrough for in-store transactions this year, surpassing other payment methods for this kind of transactions. In May 2026, mobile payments became the most commonly used payment method for offline purchases, rising by 3.4 points to reach 28.2%.

Mobile payments overtook debit cards, which experienced a decline in usage of 1.3 points to 25.8%, falling to third place behind mobile payments and cash. Cash remained the second most popular payment method in May 2026, with a share of 27.1%, up 0.6 points compared to November 2025.

Credit cards, on the other hand, continued to lag behind, accounting for only 16.2% of transactions in May 2026 and ranking fourth. This marks a decrease of 2.5 points from November 2025.

For remote transactions, such as e-commerce, phone orders, and in-app purchases, mobile payments remained the clear dominant payment method in May 2026, accounting for 72.3% of transactions. Invoicing ranked second, accounting for 15.7% of all transactions.

Support for cash rises

At the same time, the study found that the declining use of cash payments is leading more and more businesses to forego accepting cash. Nearly 25% of respondents reported having been refused cash payment in the past year, a figure that’s 3 point higher than the 22% rate in late-2023.

Cash rejection rates are rising despite the growing support for cash among the population and its continued relevance as a payment method.

Between November 2025 and May 2026, the proportion of the Swiss population who think that abolishing cash is “not at all a good idea” rose sharply by 11.3 points to 58.3%. Meanwhile, the proportion of respondents who find it “rather not good” stood at 20.9% in May 2026. Combined, the share of opponents to the abolition of cash stood at 79.2% in May 2026, marking a 10.4 point increase from November 2025 and a new record high.

These results followed the “Cash is freedom” nationwide popular vote on March 08, 2026, which asked voters to put the availability of cash and the Swiss franc’s status as the national currency into the Constitution. It also required voters to consider a counter-proposal by the Federal Council and Parliament, which pursued similar constitutional protections but with different wording.

The original proposal was ultimately rejected with a 54.39% rejection rate, while the counter-proposal was overwhelmingly approved at 73.4%. As a result, cash is now constitutionally protected in Switzerland, with the Constitution recognizing the Swiss franc as the currency and mandating the Swiss National Bank (SNB) to ensure an adequate supply of cash.

This high approval rate of the proposal reflects high trust in the authorities and a widespread desire among the population to preserve cash.

Featured image: Edited by Fintech News Switzerland, based on image by RSplaneta via Magnific

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