Cash as a Constitutional Right: Why Switzerland Is Moving to Guarantee the Use of Cash

By Frane Maroevic, Director General, International Currency Association

In a striking move, Swiss lawmakers have voted to support enshrining the right to use cash in the nation's constitution—a significant stance as digital payments gain ground.

This decision follows a referendum initiative led by the Swiss Liberty Movement, which garnered over 100,000 signatures, underscoring growing public sentiment that physical money remains essential.

Though mobile payments have overtaken all other methods—now accounting for 30.7% of transactions, compared to cash at 24.2%—the move reflects a deeper concern than mere payment preferences.

As the government acknowledged in its counterproposal, cash retains "major importance for the economy and society." The symbolic and practical implications are clear: cash embodies autonomy, accessibility, and resilience.

Martin Schlegel, the newly appointed president of the Swiss National Bank, echoed these sentiments when unveiling plans for a new series of franc notes.

He reaffirmed that cash remains a “widely used payment method,” highlighting its unique strengths—most notably, reliability during power outages or technical failures.

These are not minor issues in an increasingly interconnected and fragile digital infrastructure.

Moreover, cash offers privacy and inclusivity. Not everyone owns or wishes to rely on smartphones and banking apps. For vulnerable populations, such as the elderly or unbanked, physical currency ensures participation in everyday commerce without barriers.

As nations around the world move toward cashless economies, Switzerland’s decision sends a powerful message: the convenience of digital payments must not eclipse the fundamental right to use cash.

This move safeguards personal freedom, ensures resilience, and promotes inclusive access in an increasingly digital world.

In short, preserving cash isn't about resisting progress—it’s about ensuring that progress remains fair, accessible, and secure for all.