Breakthrough in Switzerland: Smartphone Becomes the Most Popular Payment Method

A revolution in the wallets of Swiss residents has become a fact. The latest Visa Payment Monitor 2026 report shows that smartphones have become the preferred payment method for 28% of the population. This is an unprecedented result, as mobile devices have for the first time overtaken traditional debit cards (27%) and cash (25%). Experts emphasize that mobile payments are essentially an extension of the card ecosystem, as users most often use cards stored in the device's memory. Visa Payment Monitor indicates that this dynamic growth is primarily driven by younger age cohorts, for whom digital solutions are a natural part of daily life. For decades, Switzerland was considered a conservative stronghold of cash, where the anonymity of paper transactions was treated as an important element of civil liberty, and cashless systems developed more slowly than in Scandinavia. Despite the growing dominance of digital solutions, attachment to traditional money remains strong in the Swiss Confederation. As analysts note, attempts to stop accepting cash in restaurants or at Christmas markets still provoke social resistance. Consumers value the ability to choose, although in practice they increasingly rarely reach for physical wallets. „People who make contactless payments using a smartphone are using a card that is stored in the device.” — Santosh Ritter However, the challenge remains the issue of security and trust in new technologies. Nearly half of respondents express concerns about instant payments, pointing to the lack of chargeback mechanisms that facilitate recovering funds in case of erroneous transactions or fraud. 28% — Swiss choose phone over wallet Forecasts for the coming years suggest further digital evolution. A significant part of society predicts that within five years, cashless payments will become a completely dominant standard in retail. The next step in the sector's transformation is expected to be the widespread use of artificial intelligence agents, which will take over purchasing and decision-making processes. Despite these visions, the debate about the role of cash as a stable and secure means of payment in the age of digitalization remains lively in Swiss public discourse. Smartphone: 28, Debit Card: 27, Cash: 25, Other: 20 The Swiss banking system, built since the 18th century, is considered one of the most stable in the world, which paradoxically may have influenced the slower adoption of risky technical innovations. Evolution of Payment Preferences: : → ; : → ; : →

Liberal media emphasize the modernity and convenience of digital payments as natural technological progress facilitating life for younger generations. | Conservative titles highlight attachment to cash as a guarantee of privacy and warn of dangers resulting from lack of control.