the Swiss like to bet on proven and change their habits only slowly. This is particularly the cash. While Sweden has set the goal to be to 2023 on a cashless basis, in China, the invoice can be paid in the Restaurant by Smiling into a camera, pay the Swiss to be happy with the coin and Nötli. In Switzerland, cash is on the decline, even here, card payments and Payment Apps, such as Twint, is on the rise. The recently re-launched Swiss Payment Monitor of the Zurich University of Applied Sciences occupied.
But how rapidly this development work? The Swiss payment service provider SIX designs now in a basis of paper, seven scenarios for the future of cash. A time horizon of five to seven years. The authors of the study believe that the new series of Swiss banknotes are soon to be superfluous, but we will use it much less frequently.
40% to 70%
Because only the SIX most likely scenario foresees a profound change in the Swiss payment habits. The cash payments are expected to decline by 40 to 70 percent. Payment cards and Apps replace more and more. The payment process is integrated with web services so that it is for the customers hardly visible. "Digital payments have become more practical and more comfortable in comparison to cash, since the digital interfaces are always closer to the human activities", according to the study.
The cash but by many as a store of Value would be hoarded. The decline in Pay, and means that the private cash sink stocks by 40 to 60 percent. Private money transfers will be done mainly via a Smartphone, ATMs less frequently, and for those who need cash, this will relate to a cash register. According to this scenario, the current cash infrastructure around banks and ATMs in rural areas could disappear completely.
This is associated with the end of cash services go in Bank branches, in addition, the number of ATMs would be reduced according to the paper by 30 to 40 percent. For the classification: In Switzerland there are today approximately 7,000 ATMs. 2000 to 3000 would be removed, would arrive in the scenario. Digital wallets third-party, which do not originate from the financial sector, according to the the paper important. In China, for example, be WeChat Pay has been established as the most important means of payment, it was once a Chat-App, à la Whatsapp. The new competitors, counteract, expand, banks and do not offer services on the Bank's business, the customers, lose relationships, it says in the paper.
Bitcoin and co. with a heavy Stand
As pretty unlikely to consider it, the authors of SIX, that a society completely without cash. Because: "The most likely path to such a scenario is that a state prescribes it," according to the authors. As is also more unlikely to consider it, the authors of that crypto-currencies like Bitcoin or Ether to prevail, and by a Central Bank-issued currencies as the dominant forms of Money to replace. The new currencies would have to only as a means of payment establish. This is beginning to change slowly. Although the first detail to accept traders like about Digitec/Galaxus crypto-currencies, but this is associated with a high cost.
Also not particularly likely is it that new, non-state currencies to run to the rewards of the rank. An example of this could be Libra. The Facebook currency has made their announcement created a sensation, since then, she has already experienced setbacks. More recently, the EU wants to promote as a reaction to the Libra project, apparently, even its own digital currency.
Created: 06.11.2019, 16:54 PM