Of course in Australia you can ‘tap & go’ in a growing level of establishments lessening the need to have cash in one’s wallet but the average of cash withdrawals from ATMs has been floundering for 7 years, which masks exactly a similar trend of credit card limits. No growth. Tap & Go/PayWave came into wider spread effect in 2013. Even having taken that into account, cash withdrawals were still declining.
Australians have the highest use of “tap & go” credit and debit cards in the world. RFi found 59 per cent of Australians had made a purchase with a contactless card, ahead of New Zealand on 53 per cent and Singapore 50 per cent, and well ahead of the likes of the UK at 38 per cent and the US at 16 per cent.