Switzerland: Paying for your groceries at the railway station?
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According to a study by the Swiss National Bank (SNB) , around 1 out of 5 people exclusively pay with cashMoney in physical form such as banknotes and coins. More in Switzerland. 39% of Swiss citizens have confirmed their preference for this form of paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More due to its ease of use and other factors, like privacy protection , unlike electronic payments.
The good news is that cash lovers now have the possibility to shop online without a credit card thanks to a partnership between Cash Payment Solutions GmbH – better known as Barzahlen – and the Swiss railway system, SBB . Founded in 2011, the German company has already partnered with more than 10’000 stores across Germany and will now expand its offer to Switzerland allowing consumers to pay for their online goods from any SBB ticket machine. The system is simple: the user receives a bar code via email or text message who can then be transcribed to a ticket and settled in cash at the ticket terminal up to a maximum of CHF 1’500 per day.
Barzahlen caters to the unbanked population and to consumers concerned about their privacy. Another advantage of this payment option is that it allows users to keep an eye on their expenses even while shopping online, thanks to the tangibility of this form of moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More.
In Europe, currencyThe money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. More in circulation has increased by an average of 39.5% in local currency value in recent years, as stated by the 2018 World Cash Report, showing how much cash is still appreciated regardless of the multiplication of payment methods.
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