Cash could be almost gone in Australia in a decade
When will cash go the way of cheques? Pure extrapolation suggests it has less than a decade to go, but will probably hang around longer.
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When will cash go the way of cheques? Pure extrapolation suggests it has less than a decade to go, but will probably hang around longer.
Cheques have nearly disappeared from the financial landscape and Peter Martin explains why cash is likely to follow in coming years.
As recently as 2007, the vast bulk of consumer payments – 69 per cent – were in cash. By 2019 only 27 per cent were in cash, writes PETER MARTIN.
Late last year, the Reserve Bank gave 1,000 Australians diaries and asked them to record every payment they made over the course of a week. Of the 1
Like cheques, cash will probably die gradually, then suddenly.