In Australia, cash is disappearing fast — not with a bang, but quietly, almost unnoticed. The more people tap, swipe or scan, the less they reach for notes and coins. And while digital payments bring convenience, they also raise new questions about access and fairness.
Cash Payments Have Collapsed Since 2007
Fifteen years ago, Australians paid for nearly everything in cash. According to the Reserve Bank of Australia, around 70% of consumer transactions in 2007 involved physical money. By 2022, that figure had fallen to just 13%.
The decline didn’t happen all at once. Contactless technology, smartphone payments, and changing habits chipped away at cash use over time — but it was the COVID-19 pandemic that pushed things over the edge. With fears around hygiene, people simply stopped touching money. Once they got used to tapping a card or scanning a phone, many never went back.
That shift is visible everywhere. From coffee shops to corner stores, signs reading “Card Only” are no longer rare — in some places, they’re the norm.
Not Everyone Is Ready to Let Go of Notes and Coins
Still, not all Australians are cheering for a cashless future. For older generations, people in rural areas, or those without stable internet access, cash isn’t just a habit — it’s a necessity.
The ongoing closure of bank branches and removal of ATMs hasn’t helped. Some communities feel left behind, especially when the nearest cash withdrawal point is now a town over. In response, small grassroots protests have emerged — “cash out days” where people pay exclusively in notes to send a message.
The concern isn’t about resisting technology — it’s about staying included. And that’s where the government decided to step in.
Government Mandates Cash for Essentials
Starting in January 2026, a cash mandate now requires fuel stations and grocery retailers to accept cash payments — but only in specific circumstances: The transaction must be in-person. The amount must be A$500 or less. The purchase must take place between 7 a.m. and 9 p.m.
Retailers are allowed to refuse cash outside these boundaries. The mandate is set to last three years, after which it will be reviewed. According to Treasurer Jim Chalmers, it’s meant to protect those who “still depend on cash for essential items”, reports 9News.
A Future Without Cash — or Just Less of It?
Experts like Angel Zhong from RMIT University say the shift to digital payments is already well underway. “The blend of technological advancements, changing consumer preferences and regulatory adaptations has set the stage for this transformation,” she said in an earlier interview. In her view, the end of cash isn’t some distant future — it’s unfolding now.
Still, for all the talk of digital efficiency, the human side of the story matters. People manage money in different ways, and not everyone has the same tools. Whether Australia becomes fully cashless or simply mostly cashless remains to be seen.
But one thing is clear: the days of paying with a ten-dollar note at the corner shop may soon be behind us.
