Minister Says Cash an Important Backup If Digital Payment Systems Fail

On Dec. 20, Treasury issued a consultation paper seeking public input on the cash mandate’s scope, compliance, and accessibility strategies.

Australian banknotes and a one dollar coin. Squirrel_photos/pixabay

A week after releasing a consultation paper on the scope of cash use, Assistant Treasurer Stephen Jones reiterated the significance of cash as a fallback during digital payment failures.

“Sometimes systems go down, sometimes electronic payment systems don’t work,” Jones stated.