Despite efforts by some campaigners to make sure we will have the right to use cash for purchases – the reality is that we are doing so less and less.
The latest figures from the Swiss National Bank shows we used cash only 36% of the time last year. Down 10% from 2021.
While the central bank says there’s CHF 81bn of cash in circulation – it’s believed much of it is outside the country as it’s used as a safe store of wealth. That’s because a lot of the missing cash is in 1000-franc notes.
But it seems voters will get the chance to guarantee cash use in the constitution. A group has collected enough signatures to force the issue to the people.
Even so, there are warnings that if the use of cash drops – then the logistics of cash delivery and collection will get more expensive.
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