Payment Card Year Books

Switzerland Statistical Report 2024

Name: Switzerland Statistical Report 2024
Brand: Payment Card Year Books
Price: 270.00 GBP
Availability: InStock

£270.00

Product variants

Quantity

INTRODUCTION

Switzerland is governed under the model of the Federal Constitution with a bicameral parliament. Switzerland is not a member of the European Union but many Swiss legislations as they pertain to payments have been aligned to the framework of EU legislation.

The shift away from cash and towards card and mobile payment methods was already underway in Switzerland before the COVID-19 pandemic, helped by the advent of contactless technology and growing penetration of mobile payment services like Apple Pay, Samsung Pay and the domestic scheme TWINT. In 2021, for the first time, debit card overtook cash as the most frequently used payment instrument.

As for the wider FinTech landscape, Switzerland is an active testing ground for blockchain initiatives and distributed ledger technology, although the Swiss National Bank has not given a firm commitment to using a CBDC.

The sudden shifts in the payment behaviour of the Swiss population, initially triggered by the COVID-19 pandemic, gradually stabilised over the course of 2021. The debit card remains the most widely used means of payment, both in terms of frequency of use and turnover. Although cash usage is declining, it is still widely used in Switzerland, although the growing popularity of mobile payments continues to grow significantly in all areas, especially at the expense of cash. Mobile payments are also being used more and more in bricks-and-mortar locations, especially for payments in a shop with a QR code or via NFC. TWINT is by far the most-used mobile payment solution in Switzerland. The use of cash among the Swiss population has more or less stabilised over the past two years. At the same time, there have recently been more and more people who usually no longer carry cash at all. Measured by the share of turnover, the credit card ranks first among the means of payment, ahead of the debit card and cash.

Many digital payment innovations are the result of partnerships between incumbent banks and new FinTech entrants. Disruptive technologies have set the stage for digital payments for the digital economy in Switzerland. They have accelerated digital payment transformation and mobile payment services, as well as cardless IBAN-based payments directly from bank accounts.

In the last decade, Swiss consumers have embraced mobile devices such as tablets, smartphones and Internet of Things (IoT). This change significantly impacts their shopping experience. Consumers have become increasingly connected and they have started to purchase anywhere, at any time, from any device.

In addition, new consumer demands are a game changer. Swiss consumers like digital banking apps with access to all their accounts at different banks in one single app, with the option to make payments directly from their bank account of choice. Additionally, they appreciate more banking services and payment services added to their mobile banking app. Consumer adoption of digital payments in Switzerland is driven by minimal cost, secure payments and a high level of user convenience.

STATISTICAL KEY FIGURES FOR 2023/24 PROVIDED IN THIS PROFILE:

NEW IN 2024:

THE FULL IMPACT OF COVID-19 ON DIGITAL PAYMENTS, CARD PAYMENTS, E-COMMERCE AND M-COMMERCE BY MARKET.
REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.
READER-FRIENDLY DESIGN WITH ENHANCED DATA VISUALISATION.
INDUSTRY DEVELOPMENTS AND BANK DEPLOYMENTS OF EID, BIOMETRICS AND AI.
THE INTEGRATION OF DIGITAL CHALLENGERS AND NEOBANKS INTO THE BANKING INFRASTRUCTURE.

UPDATES FOR 2023-24:

UPDATED – BANK M&A, RESTRUCTURING AND MARKET POSITIONING.
CUSTOMER NUMBER KPIS AND ADOPTION OF DIGITAL CHANNEL KPIS.
REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.