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Cards

Poll confirms Australians prefer card to cash

Monday 24 September 2018 | 02:50 PM CET

A YouGov Galaxy poll commissioned by Square has found shoppers prefer cards rather than cash, while banks add more card options to their mobile wallets.

One-in-three Australians are card-only shoppers and almost all prefer card to cash when given the option, according to the poll, which was commissioned by payments provider Square, and surveyed 1,000 Australians.

Four-in-five Australians consider paying by card is much faster and more convenient than paying with cash, with one-in-five respondents not recalling the last time they withdrew physical cash.

Australia has one of the highest usage rates of contactless payments. Mastercard reports its PayPass tap-and-go functionality is used in around 80% of face-to-face transactions; it’s a similar story where Visa is concerned, with 92% of in-person transactions on the Visa network utilising its PayWave service.

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