Business
Australia will be almost completely cashless within three years – 7NEWS.com.au
Our use of physical currency will become little more than a memory much sooner than previously thought.
Australia will be almost completely cashless within three years, with the COVID-19 pandemic speeding up the decline of coins and notes, new research says.
Just 2.1 per cent of point-of-sale transactions in Australia will be in cash by 2024, down from 8.3 per cent in 2020, predicts fintech company FIS in its sixth annual Global Payments Report.
Globally, cash made up 20.5 per cent of transactions in 2020.
FIS says Australia will be the fourth most cash averse economy in the world after Sweden, Denmark…
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