Towards the Digital Economy - Milestones Report, December 2013

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. 

Figures from the Reserve Bank of Australia show that for the year to June 2013, cheques use dropped 13.3% – down from 241 million to 209 million. This compares with a 12.5% drop for the year to December 2012. 

The report further highlights the initiatives undertaken by financial institutions and Government to ensure a smooth transition to the digital economy for those that still rely on cheques.