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TWINT is a Switzerland-based mobile payment method that has grown exponentially since its launch in 2015. American Express is used, but only holds 2% of the market. Visa and local cards (like the PostFinance card scheme) follow with 17% of the market share each. Mastercard has the highest card market penetration, with 64% of the market share. However, when it comes to online shopping, 80% of Swiss consumers preferred credit card over debit card, according to a survey completed by Swiss company Moneyland.

Debit cards are most popular for in-store purchases and ATM access. Statista reports that cards make up 52% of all online transactions.Īccording to JP Morgan, there are 1.26 debit cards per capita, while only 0.85 credit cards per capita. Credit and Debit CardsĬredit and debit cards are another extremely popular payment method in Switzerland. While these can be direct bank-to-bank transfers within the Swiss borders, customers can also use a service like SEPA to complete cross-border bank transfers.

Bank transfers are viewed as secure and convenient for most Swiss customers.īecause of the prevalence of this method, it’s often beneficial for merchants to have an account that customers can use for direct bank transfers. That’s down from 56% in 2019, but still the most popular payment method for ecommerce.

Bank Transfersīank transfers are one of the top payment methods in Switzerland – especially online.Īccording to JP Morgan, bank transfers are projected to make up 46% of all ecommerce transactions in Switzerland in 2023. To help you get started, we’ve compiled the top six payment methods in Switzerland. This allows you to provide a seamless payment experience for your customers, resulting in higher customer satisfaction and loyalty.

If you’re venturing into the Swiss market, it's crucial to understand the top payment methods Swiss consumers prefer. With 89% of the Swiss population already shopping online, the market is well-primed for ecommerce and cross-border transactions. Switzerland is a great market for businesses looking to expand.