Australia's transition to a cashless society is inevitable and could happen by the end of the decade, a
According to a report by the Australian Banking Association, at the end of 2022, cash only accounted for 13 per cent of consumer payments in Australia.About 40 per cent of Australians are now comfortable leaving home without their actual wallets or even credit and debit cards, the report found. "The meaning of cashless society is more about the way that we transact... it adds to the convenience of our day-to-day lives.Are you concerned about Australia's transition to a cashless society? Do you have a story? Contact reporter Rebecca Masters on rmasters@nine.com.auAs this transition happens, our payment systems need to be "fit for purpose" so they deliver for consumers and small businesses, Zhong said.