How COVID-19 has changed how Aussies pay

Digital payment platforms such as digital wallets are on the rise in Australia thanks to COVID-19.

Andy White, Chief Executive Officer and a director of AusPayNet, told Shane McInnes the trend away from cash in terms of payments had accelerated during the pandemic.

But he said the real trend was the use of digital wallets.

“I don’t think we are seeing a cashless society, but I do think we are seeing less cash in terms of the number of transactions made, and we have seen that trend for a while.

“Interestingly, the thing we have seen during COVID is an increased use of digital wallets, so paying using your phone for example, and that’s certainly because people like the feeling of being in control.

“Once of course you’ve tried that payment, it’s a really good customer experience and people tend to stick with it.”

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