Despite the rise of digital payments, Australians overwhelmingly want the right to pay with cash, according to new research. The nationally representative survey of 1000 Australians, conducted by Money.com.au, finds that the majority (68%) – equivalent to 14.8 million people – believe all businesses should be required to accept cash as a payment option.
A further 14% say essential services like supermarkets, pharmacies, and petrol stations should at least continue accepting cash.
A similar portion of Australians (13%), however, say businesses should be free to choose whether to accept cash, while just 5% support a no-cash policy.
Finance expert, Sean Callery, says while digital payments are rising, cash still plays an essential role for millions of Australians.
“Australians are using less cash overall, but they still believe businesses should be required to accept it. Cash remains the most reliable payment method – when the internet is down, the power is out, or there’s a tech glitch, it’s often the only way to pay,” he says.
“It’s also the only way to dodge debit and credit card surcharges – the most hated fee among Aussies, with 39% ranking it above even ATM withdrawal charges (14%).”
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