At a glance
- With electronic payment methods, the money flows electronically
- Debit cards, credit cards, prepaid cards and TWINT are popular electronic payment methods in Switzerland.
- Mobile payments via smartphone are also very popular.
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The pros and cons of different electronic payment methods
12.03.2026
What are the most popular electronic payment methods in Switzerland? What are these payment methods best suited to? What are the pros and cons of debit cards, credit cards and TWINT? We compare these online payment methods.
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Swiss customers have access to an increasing number of payment methods. But in what scenario are you best off using online banking? When is a debit card or credit card the better choice? And what is TWINT suitable for? We have compared the most popular electronic payment methods for you.
What is or is not considered an electronic payment method?
With electronic payment methods, the money also moves electronically. Electronic money – also known as e-money – is digital cash and is linked to the monetary value of legal tender. E-money is saved on cards, online accounts or mobile phones. Cards not counted as e-money are those used solely for specific payment purposes (e.g. phone or gift cards), and bitcoins as well. The virtual currency can be transferred, but no digital cash is involved. This is because bitcoins are their own currency, i.e. a digital representation of a value. The same of course applies to other cryptocurrencies.
The pros and cons of debit cards: paying and withdrawing money
Withdrawing money from ATMs in Switzerland or abroad, paying in a shop or restaurant or paying an invoice in an online shop: debit cards are a very popular payment method with the Swiss. As the account is debited directly at the time of purchase, no debts are incurred.
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- In Switzerland, you can use a debit card to withdraw money at a low price, or even for free,
- New debit cards like the PostFinance Card with the Mastercard logo, the Debit Mastercard or the Visa Debit can be used all over the world to pay in online shops and to withdraw cash at over a million ATMs.
- Debit cards can be stored on smartphones for mobile payment (e.g. Apple Pay).
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- Debit cards rarely offer value-added services such as insurance or bonus programmes.
- Debit cards offer less financial flexibility compared with a credit card.
Useful to know: this is what the PostFinance Card offers
If you have a private account in CHF with PostFinance, you will also get the PostFinance Card. With the PostFinance Card combined with Debit Mastercard, you can shop easily in online shops and in-store anywhere in the world. What’s more, you can also withdraw cash anywhere in the world from ATMs displaying the Mastercard logo. Withdrawing cash in Swiss francs is free of all charge for all banking packages, except for the Smart banking package. However, third-party fees apply to everyone abroad.
Pros and cons of credit cards: pay in everyday life and when travelling
Booking a flight, making an advance payment for a hotel or booking a rental car: when preparing for a trip, a credit card is often required as an electronic payment method for online bookings in particular. Unlike with a debit card, nothing is charged to your card on purchase. The expenses are collected by the credit card company and usually billed to you once a month.
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- Shopping insurance and – depending on the credit card – travel insurance are included.
- Credit cards are accepted in nearly all online shops as an electronic payment method.
- Thanks to the bonus programme, you get money back on every purchase. This works automatically, and the money is credited directly to your bank account.
- Debit cards are often not accepted when booking accommodation, rental cars or flights. The credit card, on the other hand, guarantees reservations.
- By booking with a credit card, you benefit from the Avis rental car discount.
- Credit cards can also be stored on smartphones or smartwatches so that you can make mobile payments.
- The Platinum card offers free cash withdrawals, concierge services and airport lounge access worldwide.
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- Depending on the banking package, you may incur annual costs for the credit card. The SmartPlus, SmartYoung and SmartStudents banking packages offer an annual discount of CHF 50.
- Cash withdrawals are not recommended due to the costs incurred. Please note: you can withdraw cash worldwide free of charge with the PostFinance Platinum Card.
Useful to know: PostFinance’s credit cards
Credit cards are a practical payment method in everyday life and when travelling. They are accepted worldwide, guarantee reservations for flight, hotel and rental car bookings and offer additional advantages such as integrated insurance, a bonus programme and mobile payment.
The pros and cons of prepaid credit cards: full cost control during the payment process
For those who don’t want to spend more than they’ve budgeted, a prepaid credit card is a very suitable electronic payment method. However, these cards are not accepted everywhere. When making hotel or rental car bookings, for instance, “proper” credit cards are frequently required.
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- The card is accepted in many online shops as a payment method.
- You cannot get into debt with a prepaid credit card.
- As the card has to be loaded before use, it offers extra security.
- Shopping insurance is included.
- Thanks to the bonus programme, you get money back on every purchase. This works automatically, and the money is credited directly to your bank account.
- The prepaid card can be stored on your smartphone or smartwatch so that you can make mobile payments.
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- Prepaid cards are not accepted everywhere. Debit cards are often not accepted, especially when booking accommodation, rental cars or flights.
- Annual costs apply, depending on the banking package. The prepaid card is free of charge in the SmartPlus, SmartYoung and SmartStudents banking packages.
Useful to know: the PostFinance Mastercard Value prepaid card
You get full cost control with the Mastercard Value prepaid card. This makes it an ideal electronic payment method for children and young people aged 12 and over. It offers additional advantages such as integrated shopping insurance, a bonus programme and mobile payment.
Tip
Not sure if you have a credit card, debit card or prepaid card? Normally, you can find this information on the card itself. If it is a debit card, it will normally say “debit” on the card, if it is a prepaid card, “prepaid” will normally be printed on it, and if you see the word “credit”, then yours is a credit card. If there is nothing at all on the card, it is most likely a credit card.
The pros and cons of TWINT: a mobile phone and wallet combined
Splitting the bill after an enjoyable meal in a restaurant with friends, paying for a shopping trip or asking a work colleague to contribute to the costs of a baby gift: a digital wallet is suitable for large and small amounts, making it a useful companion when you’re on the go. Additionally: more and more online shops offer TWINT as an electronic payment method. Making a payment is really easy because all customers need to do is scan the QR code.
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- Pay quickly by tapping on the iOS lock screen.
- It is easy to send and receive money.
- There are no annual fees or any added costs.
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- TWINT cannot currently be used abroad.
- A stable mobile phone connection/WLAN is required to pay by QR code.
- If you select the neutral prepaid TWINT App, you must top it up with credit to be able to use TWINT.
Useful to know: this is what the PostFinance TWINT App can be used for
The PostFinance TWINT App can be connected to a private account with ease. This allows you to pay, send money or request money with ease at the checkout, at ATMs or in online shops, plus you can download customer cards or activate coupons and stamp cards. Making a payment is really easy because all customers need to do is scan the QR code. TWINT partner functions offer even more ways to make day-to-day life easier, such as paying for parking from the comfort of your car, exclusive super deals and more.
The pros and cons of online banking: transfer money from account to account
Setting up a standing order for your monthly rent, saving yourself from exceeding the card limit when it comes to larger sums or making advance payments: in these instances, online banking is a suitable electronic payment method. Pay your debts quickly and easily – either at your computer or on your mobile phone. Whereas domestic payments are fairly quick, international payments (depending on the order) can take up to two working days until the money reaches the recipient.
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- Make quick and straightforward payments at any time, any place.
- Perfect for larger sums and standing orders.
- With online banking, access and account management is generally free of charge.
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- Due to multi-level security systems, logging in is more complicated than with other payment solutions, but logging in via the app can help.
- Online banking requires a stable Internet or mobile phone connection.
- Scammers can try to gain access.
Tip
Seeing as each electronic payment method comes with its own pros and cons, and acceptance varies, it is best to use a combination of these methods. If you have online banking, a debit card and credit card, plus a mobile payment solution, you will be ready for all eventualities.
Pay by mobile phone
Paying by smartphone is particularly quick and easy. Do you have a PostFinance credit card? This can be used with Samsung Pay, Google Pay and Apple Pay on your mobile phone, as well as with Swatch, Garmin or Fitbit watches. To do this, you need to store the card. The PostFinance Card can also already be used with Apple Pay. The range is being expanded, meaning it will soon be possible to store the PostFinance Card on watches and in Google Pay.