Digital payments in Australia - statistics & facts
Australia is fast becoming a cashless society. Less than a decade ago, cash was the dominant form of payment for consumers. While cash is still used, cash withdrawals have plummeted due to the uptake of digital payments.
Apart from debit and credit cards, newer alternative payment methods, such as digital wallets and mobile payments, continue to increase their market share. The coronavirus pandemic accelerated the adoption and growth of these technologies, which has encouraged businesses to accept non-contact payment methods and offer online shopping options, or risk jeopardizing their share of the increasingly profitable e-commerce market.
