Though still seen as a country where cash is king, Switzerland is well ahead of the pack when it comes to digital payments. Yet, more than anywhere else, physical money is still seen as a safe haven, and high-denomination banknotes continue to nestle in many wallets. Despite, or perhaps because of, the trend towards the disappearance of physical money, the Swiss will vote in early March on whether to enshrine cash in the constitution. >> Read more about the issues on the March 8 ballot: Spearheaded by a group of citizens known for their opposition to compulsory vaccination, the popular initiative aims to ensure that paper money will always be accessible and available in sufficient quantities in the future. The main argument is that cash offers security against the different risks seen as inherent to digital transactions (e.g., system failures, hacking, financial flow surveillance). Polls indicate that a “yes” vote could carry the day, even as the use of cash has declined sharply in ...
