Monday, April 12, 2021

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Home Business News DISAPPEARING CASH: Alarming money prediction for 2024

DISAPPEARING CASH: Alarming money prediction for 2024

Hands holding australian dollars 50 banknotes. Finance and payment concept.
Hands holding australian dollars 50 banknotes. Finance and payment concept.
Daria Nipot via Getty Images

The use of cash as a payment method will see a “near total” disappearance in Australia as the COVID-19 pandemic accelerates global shifts in consumer and payment trends.

Only 2.1 per cent of payments Down Under will be made in cash by 2024, according to new predictions made by FIS in its latest Global Payments report.

Cash made a “hasty retreat” last year as people were forced to shop online…

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