Tuesday, March 28, 2023

Percentage of smartphone payments doubles

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Pay with the app instead of notes

Percentage of smartphone payments doubles

Mr. and Mrs. Swiss are using their smartphones more and more often when paying on the Internet and in shops. The share of payment apps in all cashless payments rose to more than seven percent in the previous year.


More and more people are paying with the app instead of cash.

Smartphone apps such as Twint and Co. are becoming increasingly important for cashless payment transactions in Switzerland. According to data from the largest payment processor Worldline, the share of smartphone purchases was 7.2 percent in the past year, compared to 4.4 percent in the previous year. Since 2019, the proportion has doubled almost every year, as can be seen from the “Monitoring Consumption Switzerland” published by Worldline in cooperation with the University of St. Gallen.

In fact, the share of cell phone payments in all cashless transactions is likely to be even larger. Because with Worldline data, only payments with Twint, Alipay and Wechat Pay are considered mobile payments. Payments with Apple Pay, Samsung Pay or Google Pay, on the other hand, are recorded as credit card transactions.

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