COVID-19 has accelerated the shift to digital payments. Our infographic captures some of the trends including the boom in online shopping, strong uptake of digital wallets and the rise in P2P payments using a PayID.
Our eighth milestones report entitled The Digital Economy reinforces that individuals and businesses are abandoning cheques and cash at a record rate as they embrace digital payments.
Our fourth Milestones Report, shows Australian consumers are continuing to move away from cheques and cash in favour of cards and other electronic payments.
Our third Milestones Report released today, shows that as with cheques Australian consumers are increasingly giving up cash in favour of cards, mobiles and online solutions.
Our second Milestones Report on the transition of Australian payments to the digital economy shows that the rapid decline in cheque use is continuing as electronic alternatives become more convenient.
We released today the first in a series of planned reports on the transition of Australian payments to the digital economy. The report is part of an industry action plan to manage the decline of cheques.
