Is EFTPOS more popular than cash?
Yes, it is. And there are stats to prove it.
Every three years, the Reserve Bank of Australia (RBA) surveys how Australians pay for things. The most recent survey found that:
- 52% of payments are with a card
- 37% of payments are in cash
Increasingly, people are paying for low-value items using cards, too. The survey found that cards were used for 40% of transactions less than $20, compared to just 10% in 2007.
Why? People just don’t carry cash around anymore.
New data will be released in early 2020, and it’s expected that the number of payments by card will have grown significantly.
What are the advantages of EFTPOS over cash?
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