On 1 October 2022, a significant change will occur in payment services in Switzerland: the paper payment slips, which are often referred to as paying-in slips, will be discontinued.

Massachusetts blazed the trail in 1978, making it illegal for businesses to refuse cash payments back when debit cards and credit cards were still rare and digital wallets were the stuff of science fiction.

Over the past two years we have seen a rapid digitalisation of consumers and businesses, which has been driven by (but isn’t an exclusive consequence of) the COVID-19 pandemic. And as we look ahead to the future this trend is only going to continue.

The US is leading the charge to prevent retailers from having the right to refuse cash payments. Will we see this trend cross the Atlantic to Europe any time soon? And how might this affect eCommerce?