Here is how much is the liquid in Switzerland

National Bank figures show what means of payment are increasingly supplanted by the application.

Pascal Michel / ch media

Twint has become a real Swiss phenomenon. The application now records 773 million transactions per year, or 67 % market share, and claims more than six million users. From the peasant market to the small farm store, its use was imposed everywhere.

But the practical recourse in Twint is becoming more and more at the expense of species, as shown by the survey on the means of payment of the National Bank (SNB). Thus, 77% of users claim that before the application, they adjust their private cash debts. Twint is particularly popular as an alternative to liquid in 35-54 year olds. In 12% of cases, it even replaces online bank transfers with relatives.

Twint replaces cash everywhere

At the checkout too, Twint attracts more and more customers. According to the BNS survey, a third of them previously paid in cash. More than half even abandon their debit card to Twinter. No doubt because he is more faced with drawing his phone than his card.

Finally, Twint has established itself in online commerce, where it is above all the debit and credit cards that suffer from it. The application also offers an alternative to traditional payment on invoice.

The success of Twint and payment cards weakens the cash. As early as 2022, the president of the BNS, Martin Schlegel, evoked, in the face of the general decline in the use of species, a negative spiral which accelerates. Banks that cause Twint feed this phenomenon: not only do they compete with the liquid with the application, but they also reduce the number of agency withdrawal counters and regularly dismantle automatic distributors. Enough to lower cash demand.

Twint could be part of the solution

And yet, Twint could well contribute to the solution: the application makes it possible to remove liquid in the Valora kiosks, as well as in Volg or with with. Only downside: costs of 1.50 francs apply for any withdrawal up to 100 francs, and 2 francs beyond 110 francs.

When questioned, the company did not wish to indicate how many users actually remove liquid via Twint on newsstands. In comparison with the sharp increase in transfers via the application, this undoubtedly represents a marginal part. You has not commented any more the possibility of expanding the network of withdrawal points or reducing costs. These costs probably brake some consumers, who prefer to avoid using the available options – via Twint or the distributor. According to the BNS study, almost half of the respondents judge these costs “inappropriate”.