Cash could be almost gone in Australia in a decade – but like cheques, who'll miss it?
- Written by Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University
ShutterstockLate 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 13,000 payments, only 17 were with cheques.
It’s been an astounding collapse. Back in 1980 at the start of the credit card era, 85% of non-cash payments were made with cheques. Today...
Read more: Cash could be almost gone in Australia in a decade – but like cheques, who'll miss it?