Despite recent instant payments initiatives, the Swiss National Bank reported that cash is still the most widely accepted payment method among businesses in the country. Roughly 98% of the 770 companies surveyed by the central bank said they accepted physical payment, primarily citing customer demand. Many businesses also believe cash is more stable and less...
Tag: Instant Payments
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Real-Time Payments Reach Key Milestones in the US, Switzerland and Australia | PYMNTS.com
Download the World Map Real-Time Payments World Map Real-time payments continue their rapid global expansion, with banks and governments updating existing systems and introducing new ones for their citizens and customers. Australia is expanding its real-time payments landscape through a new cross-border payments collaboration between BNY and Commonwealth Bank of Australia (CBA). This collaboration allows...
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Switzerland launches instant payments
Switzerland has launched an instant payment system to catch up with the rest of Europe and transform its cash-loving people into a digital payments society. The Swiss National Bank (SNB) announced that its new digital payments system is now available to 60 financial institutions, covering over 95% of the country’s retail transactions. It plans to integrate...