Australia's $100bn cash circulation, up by $19bn during the pandemic, declines in everyday use as digital payments rise, affecting armoured car businesses and ATMs.
Australia's $100 billion cash circulation, up by $19 billion during the pandemic, is diminishing in everyday use as digital payment options take over. Cash is involved in only 13% of transactions, leading to a decline in the armoured car business and ATMs. RBA researchers estimate that $56-81 billion of this cash is currently being stashed away in suitcases, backyards, or under beds.
March 17, 2024
37 Articles