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Australia moving towards a cashless society

Close-up of person's hands holding open an empty wallet.

Close-up of person's hands holding open an empty wallet. Source: Getty

The coronavirus pandemic has further solidified a move pushing away from cash for some businesses, in order to maintain hygiene and social distancing guidelines.


Published

By Peggy Giakoumelos

Presented by Ricky Onggokusumo

Source: SBS



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The coronavirus pandemic has further solidified a move pushing away from cash for some businesses, in order to maintain hygiene and social distancing guidelines.


The acceleration towards a cashless society may be a win for many retailers and banks, but segments of the population are still struggling to adapt to the world of cashless payments.

Perceptions about the security of digital payments can also be influenced by those who come from countries where the level of trust in the government and in banks remains low.

 

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