Cash Survey Results in Switzerland and the US

Both Switzerland and the US are big users of cash. Here we report on surveys that show change is happening.

In Switzerland cash remains an integral part of life, carried by virtually all and held at home as a store of value by most. However, debit cards and contactless payments have driven cash usage to under 50% and people have now experienced using non-cash payments. Change has started.

In the US cash is remarkably resilient, with the pandemic having an impact but perhaps not as big as one might have expected. Although people are choosing convenience, the survey suggests a keen desire for payment choice.

SNB 2020 Survey on Payment Methods

The Swiss National Bank (SNB) repeated its 2017 survey on payments. 2,100 people were interviewed before filling in a week long payment diary for day-to-day non-recurring payments, as opposed to recurring payments such as paying the rent. Over 22,000 payments were recorded. Respondents also provided information on their recurring payments. Survey data was collected between August and November 2020.