This is how Switzerland pays Do you pay with cash, card or phone?

The Swiss are increasingly turning to their mobile devices to pay for purchases. How the payment market is developing and the advantages and disadvantages of the various payment methods.

How do Swiss people prefer to pay and what payment methods are available?

This question is answered by blue News. Studies by Comparis, the ZHAW and the University of St. Gallen show that the Swiss prefer to pay with mobile devices.

blue News examines the various payment methods and investigates their popularity, security and use.

The eleventh Swiss Payment Monitor by the ZHAW School of Management and Law (ZHAW) and the Center for Financial Services Innovation at the University of St. Gallen examined the means of payment in Switzerland. In April and May 2024, 1,700 people throughout Switzerland were surveyed.

The report reveals that In Switzerland, mobile devices such as cell phones, tablets or smartwatches are most commonly used to make payments. In terms of the total number of all transactions, this means a significant increase compared to the survey 6 months ago:

Debit card most frequently used in-store payment method

If only in-store payments are considered, the debit card remains the most common means of payment:

In addition to twint payments, which are usually booked directly from the account, the latter also include payments with e-wallets such as Apple Pay, Samsung Pay or Google Pay, where a debit or credit card is stored.

Credit card benefits from the growth of mobile payments

A further breakdown by the billing product of a local payment reveals the following distinction: After debit cards and cash, credit cards are in third place with 23.6% (+2.0 percentage points). Mobile applications such as Twint, which are charged directly to the account, are in fourth place with 10.8% (+3.6 percentage points).

"This shows that paying with Twint, but also with the usual e-wallet solutions at supermarket checkouts, in clothes stores or in restaurants, is becoming increasingly popular," says ZHAW payments expert Marcel Stadelmann. "The majority of e-wallets are still based on credit cards, which is why they are benefiting from the growth in mobile payments."

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Online payment methods in vogue

In 2024, the comparison platform Comparis examined the security, popularity and applications of Twint, Apple Pay and Samsung Pay. One thing is clear: Twint is probably the most popular payment method in Switzerland. The disadvantage is that Twint can only be used for domestic payments.

How secure is Apple Pay?

Comparis writes: You authorize the payment process with Face ID or Touch ID. The transaction at the payment terminal or in the online store is encrypted.

Apple protects your credit card details and does not store them on a server or on the device. Merchants also do not see the full card number.

The biggest risk is if your credit card is stolen: other people can then create their own Apple Pay account and use it to pay. Apple Pay is therefore at least as secure as using a conventional credit card.

What do I need for Apple Pay?

An important point about Apple Pay is that customers must own an Apple device. Apple Pay is only available on their devices.

To be able to pay with your device, you activate Apple Pay. You must have your prepaid, debit or credit card activated. This is then stored in the Wallet app. Double-click on the lock button to make the card appear. Now you have to place your cell phone on the terminal.

Do I have to pay any fees?

Apple does not charge any additional fees for mobile transactions. The same fees apply as for conventional credit cards. These are defined by the issuers.

How secure is Twint?

Twint's media officer Victor Schmid tells the "Beobachter":"Twint must be confirmed by a code or by facial or fingerprint recognition when it is opened and the system works in accordance with the security standards of Swiss banks." So far, Twint has not recorded any cases of misuse.

What do I need for Twint?

To use Twint, you download your bank's app onto your cell phone. You then link your bank account or credit card to the app. How exactly you set up Twint depends on the provider.

It runs on all common smartphones, including Android devices. You don't need a credit card for Twint. The amount used can also be deducted directly from your bank account. You can also use Twint to transfer money to other people. The biggest disadvantage of Twint is that it is not available abroad.

Do I have to pay any fees?

The app is free of charge for users. Merchants, on the other hand, pay a certain percentage to Twint for every transaction.

In exceptional cases, there is a fee for individual services. These include the ticketless parking function and cash withdrawals.

Twint told blue News: "While the use of digital payment methods is often free of charge for users, merchants are charged fees. However, a recently published study by the HSG also shows that cash payments in particular cause considerable economic costs and are among the most expensive means of payment for merchants due to the costs of handling, security and providing change."

What is Samsung Pay?

Samsung Pay is a mobile payment service via smartphone or smartwatch. With Samsung Pay, you store a credit card, debit card or prepaid card. Important: The issuer of your card must enable the use of Samsung Pay.

The Samsung Wallet - a digital wallet - has been available in Switzerland since 2022. It combines Samsung Pay and the Samsung Pass, a password store. You can store even more data in the Wallet than in the separate apps.

How secure is Samsung Pay?

According to the Mastercard online page: Every payment is dynamically encrypted. This keeps your transaction data confidential and secure, as your card details are not transmitted to the merchant. This prevents fraudulent use of your card details.

You keep your Samsung device in your hand at all times. Your personal information, such as your card number, cannot be seen by bystanders.

Do I have to pay any fees?

If you pay with Samsung Pay or your Samsung Wallet, there are no additional fees. You only pay the normal fees of your payment provider.

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