Non-cash payments account for 86 per cent of the value of all consumer payments in Australia, but cash still accounts for the majority of payments.
In a report published this week, MasterCard estimated that cash still accounted for 70 per cent of all consumer payments but a diminishing share of their value.
“This figure puts Australia among the most advanced countries in the journey towards cashless payments,” MasterCard said in its report, The Cashless Journey. MasterCard said other countries where the value of non-cash payments was high include France, Belgium, Canada, Germany and Sweden.
Source: Banking Day
