Australia News

Mobile Wallets Overtake Cash as Preferred Payment Method in Australia

The Australian Banking Association said between 2019 and 2023, the value of mobile wallet transactions soared by 18 times to $126 billion.
Mobile Wallets Overtake Cash as Preferred Payment Method in Australia
A customer uses Apple Pay in Cincinnati, Ohio, on July 13, 2015. Duane Prokop/Getty Images for MasterCard
Alfred Bui
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New research has shown that mobile wallets have overtaken cash as a means of transaction as more Australians have switched to digital payments in recent years.

The Australian Banking Association (ABA) on June 27 released a new report (pdf) providing an overview of banking trends among Australian consumers.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].