Do we still need cash?
Update: 2024-11-22
Description
A 2023 treasury survey showed the number of people using cash on a daily basis went from almost 96 percent in 2019, to just over 57 percent in 2023. Yet anytime the potential "end of cash" is predicted, it gives rise to some pretty emotional responses from many people, who still like to have the option. This is despite a growing number of retailers and businesses - who only want payment by plastic. But right now Australia is taking steps to make sure cash sticks around, and our Reserve Bank isn't ruling out doing something here. Money correspondent Susan Edmunds spoke to Lisa Owen.
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