Comment by traspler

I'm Swiss and try to be as cashless as possible but I can absolutely understand people & businesses opposing a completely cashless future under the assumption that the current situation remains. The fees associated with the current system are exorbitant. Credit cards, as expected, have a pretty high fee of like 2.5% or more for the accepting business and the new Visa/Mastercard debit cards that they force on everyone have even more egregious fees of CHF 0.5 to 0.95 + 1.5% per transaction. Twint (our digital payment app) also has ~1.5% in fees per transaction and the business case of Twint is to farm as much payment data of the customers as possible for analysis and offers/ads. I do like the convenience of cashless but the cost in fees for businesses and the increased interest in exploiting my transaction history for an ads business sours this a bit for me.