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Swipe, scan, tap: the cashless payments market - snb.ch
Payments are the backbone of a modern economy. Virtually no goods would change hands and virtually no services would be provided in today's world without a functioning payments system. From a macroeconomic perspective, resilience and efficiency are the overarching objectives in the payments system. Payment methods must be secure and, where possible, available continuously; and they must be technically reliable and widely accepted. A good cost-benefit ratio is also desirable. The payments system is characterised by network effects and economies of scale. These can lead to strong market concentration on certain platforms. In particular, two-sided markets in payment networks with different user groups tend to be highly concentrated due to their economic structure. It thus makes sense to consider competition-enhancing measures in this context. Lowering barriers to entry for new players through open interfaces is an important means of achieving this end. As part of its mandate, the SNB therefore supports initiatives that make it easier for new providers to link their services with the systems of other players. One such initiative is the Instant Payments Bridge project, which aims to provide technical access to the instant payments settlement infrastructure. Another project involves exploring how the Swiss and European settlement systems for instant payments could be linked, with a view to enabling cross-border instant payments. Ladies and gentlemen How did you pay for your lunch today? Did you use cash, hold your card or smartphone up to a payment terminal, or scan a QR code? This decision will typically depend both on personal preference and on the specific situation at the physical point of sale. But economic and technological factors also play a role in the choice of payment method. My colleague Thomas Moser and I are pleased to explain to you today how cashless payments work, both technically and economically. We will approach this from a macroeconomic perspective and examine the challenges involved in maintaining an efficient and resilient payments system. We will then discuss the SNB's role in cashless payments and outline how we contribute to overcoming these challenges. How the Swiss pay at the cash register Let us start with developments at the cash register. According to the SNB's payment methods surveys, the habits of households have changed significantly in recent years. You can see the figures on the slide. Cash is still used in around 30% of all ...
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Quick links Exchanging banknotes Do you have old banknotes from the sixth or eighth series that you would like to exchange? Time schedule Use iCalendar to display the SNB website calendar entries in your own calendar in real time. Statistics On the data portal, you can find an extensive range of data on monetary policy and the economy. Financial Stability The SNB analyzes developments on the financial markets and in the area of financial market infrastructure. It takes an in-depth look at the Swiss banking sector and financial market infrastructures. Monetary policy The SNB conducts Switzerland's monetary policy as an independent central bank. Find relevant information here. Banknotes and coins The SNB is entrusted with the note-issuing privilege. It supplies the Swiss economy with banknotes commensurate with demand for payment purposes. It is also charged by the Confederation with the task of coin distribution. The SNB as an employer At our head offices in Zurich and Berne, as well as at our branch office in Singapore, we offer an inspiring environment in which people can take on responsibility and carry out meaningful activities. Visitor centre Money is more than just a means of payment. It connects and divides, is longed for and missed. It is a universal medium of exchange that we have used for thousands of years. Experience the phenomenon of money in the interactive, multimedia Moneyverse exhibition.
Swiss National Bank returns to foreign currency purchases
The SNB's cumulative foreign currency purchases for 2024 amounted to CHF1.2 billion, marking a stark contrast to 2023's sales of CHF133 billion. This dramatic shift in scale and direction reflects the evolving nature of Switzerland's monetary policy needs.
Bas ter Weel: Resilient payments - cash, card, connected
Opening address by Mr Bas ter Weel, Executive Board Member of Monetary Affairs of De Nederlandsche Bank, at the DNB's Retail Payments Research Conference 2026 "Future-proof payments: innovative, resilient and inclusive", Amsterdam, 9 April 2026.
