The Swiss government started a consultation on a proposal to enshrine the availability of cash in the constitution, according to Bloomberg. The move is a response to a “Cash is freedom” initiative submitted to the government earlier this year. Campaigners want to put the issue to a national vote under Switzerland’s direct democracy system.
The government has proposed a draft law as a counterproposal to the popular initiative of the Swiss libertarian movement calling for constitutional guarantees on the use of cash. While the government rejected the initiative on the grounds that the text was not precise enough, it did accept to enshrine the protection of cash payments in the Swiss constitution.
According to the latest Swiss Payment Monitor, cash is once again the most widely used means of payment in Switzerland. After almost two years, cash is now just ahead of debit cards. In total, 29% of daily payments are made in cash.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: