Switzerland Profile: Switzerland Cashless Behaviour To Change Permanently

21 Nov, 2020 . 4 minutes

Switzerland’s population was estimated at 86 million in June. The average highest online spending is from the 25-years-to-34-years age group at 27.3 percent last year. B2C ecommerce users are expected to grow 5.6 percent a year and are expected to increase to 6.3 million users this year.

Internet penetration rose to 96 percent in January - or up 6.8 percent from 2019. B2C ecommerce users are expected to have an average transaction of US$2,034.9 per user and total transactions are expected to be US$12.92 billion by the fourth quarter of 2020.

Cash is no longer popular in Switzerland. ATM withdrawals fell nearly 50 percent between March and mid-April. Contactless payments and online payments increased as the lockdown started on Mar. 16. Switzerland is ready to introduce quick-response bill payments as an alternative at the end of June. The QR-bill will replace seven different payment slips with a digitally readable code. More people have learned to use alternative payments and the cashless behaviour is expected to change permanently.

Sign up for the newsletter

By submitting this form, you acknowledge that you have reviewed the terms of our Privacy Statement and consent to the use of data in accordance therewith.

The APEXX Payment Orchestration Platform is the last integration you will ever need

Lowest cost
We structure ourselves to operate in the most efficient way. We are not an additional cost as we take the place of the payment gateway.
Lead in Orchestration
We enhance the payment experience by driving up acceptance rates thereby reducing friction and lost sales for our Merchants.
Excellent Customer Support
The APEXX Payment Orchestration Platform is architected to the highest industry standards of security and support ensuring that our merchants have the best protection and support access at all times.