The Cashless Future in Switzerland

Are Small Businesses Ready?

Reading Time:    5 Min.
Publication:        March 31, 2026, Jessy Thür

Cashless Pay
Switzerland has traditionally been considered a cash-based society, but this reality is changing rapidly. While coins and banknotes dominated just a few years ago, there is now a clear trend toward digital payment methods. For small and medium-sized enterprises (SMEs), this raises a key question: Are they ready for an increasingly cashless future?

A look at current figures illustrates the shift. As recently as 2017, over 70% of all transactions were conducted in cash. By 2025, however, cash accounted for around 30% of in-person transactions, while cards and digital payment solutions had clearly overtaken cash. At the same time, the use of mobile payments is steadily increasing, for example through apps like Apple Pay or Twint, which enable fast and contactless payments.

Between Progress and Tradition

Despite this trend, Switzerland is far from being completely cashless. Cash remains deeply embedded in everyday life,not only out of habit but also out of trust. According to surveys, around two-thirds of the population do not want to give up cash in the future. Older people in particular see it as a source of security and control.

For SMEs, this means they currently have to take a two-pronged approach. On the one hand, customers expect modern, digital payment options. On the other hand, cash cannot simply disappear. In fact, around 92% of businesses still accept cash, while mobile payments have reached roughly 60%.

Challenges for Small Businesses

The transition to cashless payments presents several hurdles for small businesses. One of the biggest is the cost structure. Card payments and digital systems incur transaction fees as well as investments in infrastructure such as terminals or software. Many small and medium-sized enterprises (SMEs) also lack clarity on how these costs are broken down and how they can be optimized.

Added to this is the complexity: different providers, contracts, and technologies make the selection process difficult. This can be a real burden, especially for small businesses without their own IT department.

Cultural factors also play a role. In industries where small amounts are involved, such as at kiosks or in cafés, cash is often still the preferred option. Here, fees have a particularly strong impact, which slows down the adoption of digital payments.

Opportunities Through Digitalization

At the same time, this trend offers enormous opportunities. Cashless payments are faster, more efficient, and often more secure. They reduce the effort involved in handling cash, minimize errors, and simplify accounting. They also enable new business models, such as online sales or automated processes.

Another advantage is the rising expectations of customers: businesses that do not offer digital payment methods risk losing revenue. Especially in urban areas, many people hardly carry cash anymore.

A lot is happening at the system level as well: the introduction of instant payments in Switzerland enables transfers in seconds and could further accelerate digital payments.

Are SMEs ready?

The short answer: sort of. Many small businesses have already upgraded their systems and now accept cards and mobile payments. At the same time, it is clear that a complete transformation will take time.

Switzerland is in a transitional phase. On the one hand, it is technically well-positioned and ranks among the best-prepared countries in Europe for a cashless future. On the other hand, structural, financial, and social hurdles remain.

The Long Road to a Cashless Economy

A completely cashless system is unlikely in Switzerland in the short term. For small and medium-sized enterprises (SMEs), this means remaining flexible and offering both traditional and modern payment methods. The willingness is there, but the path to a fully cashless economy is more of a marathon than a sprint.

In the long term, the companies that will succeed are those that master the balancing act between innovation and customer needs. Because in Switzerland, for now, the rule is: Cash isn’t dead, but it’s no longer king.

All information provided without guarantee.


«www.yellowpages.swiss»

Location: Thurgauerstrasse 40, 8050 Zürich, Switzerland

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