With tap and go payments how much longer will we be still using cash as a form of payment?
The Australian Newspaper reported in 2018 that 1 and 3 shoppers curently shop cashless, and suggests five million Aussies haven’t visited an ATM within the last 4 weeks from their research investigation or can’t even recall the last time they withdrew cash.
Put this together with the Reserve Bank of Australia’s report from 2016 that found only 37% of payments in Australia were being made in cash and you can see where we’re heading – a time when having cash just won’t be necessary or practical for the vast majority of the transactions we make.
Using the RBA’s data from 2016, comparison site Finder have forecast that cash could disappear completely from Australia as soon as 2026.
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