Consumer Payment Behaviour News Today

Cash may no longer be king, but the Optus debacle shows it is still necessary, writes CHRIS VASANTKUMAR.

Electronic payments are convenient and are increasingly replacing cash, but when a network fails, the impact can bring a country to a halt.

When digital banking and transactions went offline for many consumers and businesses during last week's Optus network crash, it was a reminder of the vulnerabilities of a cashless economy, writes Chris Vasantkumar.

Even as Australian banks move away from handling cash, other countries, Sweden most famously, have been forced to walk back such measures.