03.06.2015

The increasing significance of e-money in Switzerland

Since the market entry of paysafecard almost 8 years ago, the significance of e-commerce in Switzerland has grown enormously. More and more people are shopping online and trusting cashless payment solutions as they do so. However, official statistics regarding this development were previously fragmentary and no reliable figures on the use of e-money in Switzerland existed. This “blind spot” has now been removed: Since the end of 2014, the Swiss National Bank (SNB) includes e-money transactions in its monthly statistics on payment transactions.

Ennoblement for paysafecard in Switzerland

E-money providers are required by the SNB to regularly report their turnover figures. paysafecard Switzerland is among these companies. Their turnover figures are collected by the SNB and published in aggregated form in its official statistics each month. For paysafecard, this reporting requirement represents a kind of “ennoblement”. Only the biggest providers with annual turnovers of more than 50 million Swiss francs are included. Because paysafecard is among this small handful of companies, it underscores its continuous growth and business success of these past years, including in Switzerland.

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