First roundtable on cash
Bern, 31.10.2023 - On 30 October 2023, the Federal Finance Administration, together with the Swiss National Bank (SNB), held the first cash roundtable. Various issues concerning access to cash and the acceptance of cash were discussed with representatives of the stakeholders involved in the cash cycle. As part of this, they took stock of the situation and possible problems. The aim of the cash roundtable is to identify any need for action at an early stage and to discuss this with the stakeholders.
Around 40 representatives of the federal government, the SNB, banks, cash-in-transit companies, retailers, service providers (e.g. Swiss Post and SBB) and business and consumer associations took part in the first event. The cash roundtable stems from a mandate from the Federal Council, which, within the framework of its report "The acceptance of cash in Switzerland" (see press release of 9.12.2022), instructed the Federal Department of Finance (FDF) to establish an institutionalised exchange between those involved in cash payments.
The Federal Council believes that cash performs important functions for the economy and society. Cash is still very popular in Switzerland, but it is clearly losing ground to cashless payment methods, such as debit and credit cards, and payment apps. The shift towards cashless payment methods is a societal trend. However, the disappearance of cash would be associated with macroeconomic and social disadvantages, especially while no equivalent cashless alternatives are available.
The first exchange focused primarily on taking stock of the situation and possible problems concerning access to cash and the acceptance of cash from the perspective of those involved in the cash cycle. The aim of the cash roundtable is to identify any need for action at an early stage and to discuss this with the stakeholders.
Questions relating to ensuring the supply of cash over the long term and specific problems with the acceptance of cash are to be examined in depth together with the stakeholders concerned, if necessary. The cash roundtable is to be held regularly in the future.
Address for enquiries
Philipp Rohr
FFA Communications Officer
Tel. +41 58 465 16 06
Kommunikation@efv.admin.ch
Publisher
Federal Finance Administration
http://www.efv.admin.ch
