King cash dethroned as cards lead a revolution at the till

Original article by Richard Gluyas
The Australian – Page: 23 : 15-Sep-17

The ­Reserve Bank of Australia’s latest triennial customer payments survey highlights the continuing decline in the use of cash as a payment option, in favour of debit and credit cards. The proportion of consumer transactions that were carried out with cash has fallen from 70 per cent in 2007 to just 37 per cent in fiscal 2016. However, cash remains the most popular payment option for transactions costing less than $A10, while cash is still widely used by older people. There was also a 20 per cent decline in payments via cheque in 2016-17.

CORPORATES
RESERVE BANK OF AUSTRALIA

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