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Consumers now use cards and phone payment more than cash

Analysts say that no one will use cash by 2022, 53% have already moved on
By: Chris Smith | Mobile Devices, Tablets & Phones News | Posted: Sep 24, 2015 2:31 pm

In the land down under, a recent report has found out that Australians are now paying with their cards and phones more-so than cash these days, seeing reports come back showing that 53% of all payments have been through other methods such as credit card or mobile payments, showing a new found dominance over cold, hard cash.

 

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This news is coupled by a 200% increase in mobile payments over the last 12 months, with predictions now being made that Australia will do away with hard currency all together by June 2022.

 

While some users are still worried about the safety of touch-and-go mobile payments, many other methods implemented for payment in recent times include things such as Snapchat's Snapcash, PayPal mobile banking and even the rise of app-based internet banking services which are all flourishing in their own right.

 

Do you welcome this cash-less society of the future, or do you think that hard currency still has a place? Feel free to share your opinions below.

NEWS SOURCES:Gizmodo.com.au

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