More Aussies ditching cash as 75% of all payments done through cards
Australians are increasingly going cashless with 75% of all payments now done with cards, compared to just 26% in 2007, according to the Australian Banking Association (ABA).
In ABA’s ‘Bank On It – Customer Trends 2023’ report, released today, the organisation also found mobile wallet usage has skyrocketed with some 15 million cards registered to mobile wallets in 2022, up 760% from just over two million cards in 2018.
Australian Banking Association’s Bank On It – Customer Trends 2023 report
Sadly for most Aussies they are paying a 1.5% surcharge on much of that expenditure which works out at hundreds of dollars per head per year.
In the EU and the UK credit and debit surcharges are illegal and should be here too.