Switzerland has moved closer to becoming a cashless society after it launched its instant payment scheme, which allows fund transfers in a matter of seconds, the Swiss National Bank and financial infrastructure operator SIX said today.
Switzerland has taken another step towards becoming a cashless society. The Swiss National Bank (SNB) and stock exchange and financial infrastructure operator SIX have launched a new system for instant transfers between private individuals and companies. “From now on, around 60 financial institutions will be able to receive and process instant payments,” explained the SNB on Wednesday. “This covers more than 95 percent of Swiss customer payment …