Don't believe the FAKE NEWS. Australia is NOT going cashless and other advanced economies are not going cashless either.
No COVID outbreak or infection has been linked to cash. Banks, card companies, financial institutions like to promote the cashless economy and skim profits from our spending data and transaction fees.
The World Health Organisation has not recommended against the use of cash but has urged people to observe good hand hygiene, maintain social distancing and wear face masks. COVID-19 is largely an airborne disease and health authorities around the world are not so concerned about transmission via surfaces.
increasingly new variants, such as the Delta and Delta Plus strains are spread through fleeting or passing contact where people breathe air exhaled by infected people.
Meanwhile, ordinary Aussies are voting against the cashless economy. Aussies made 342,000 more ATM cash withdrawals in April 2021 than in March 2021, continuing the growth trend since mid-2020.
Although Japan has an advanced hi-tech society it continues to have a cash dominated economy. It’s common for small businesses and restaurants in particular to carry “cash-only” signs. Cash is surcharge-free for merchants and consumers. Cash is resilient and available when natural disasters like floods, tsunamis and fires knock out power and internet infrastructure.
In Sweden, the government encouraged cashless mobile wallet adoption with a national identification system called BankID. Around 80% of the Swedish population signed up to BankID and the ‘Swish’ mobile wallet app that uses the BankID system.
But even Sweden won’t be going cashless any time soon. Last week, Arnie Cho, Senior Payments Analyst at GlobalData, told PaymentJournal that:
"There is still a long way to go even for countries such as Sweden, as certain segments of society are still dependent on cash.”
In Australia, cash is still the favourite way to pay for essential goods and service.
Cash makes budgeting easy. Cash is reliable, private and surcharge-free.
Cash is legal tender in Australia but some retailers, shops, supermarkets are choosing not accept cash.
What does the law say about accepting cash? Can a shop legally refuse to accept cash as payment for goods and service? There is a lot of confusion about this question.
Although cash is legal tender and many people think this means it must be accepted as payment everywhere, this is not necessarily the case.
Currently a shop or retailer can refuse to accept cash, even if the buyer want to pay with cash. Many Australians are being left confused at how this can be allowed. Thousands of Australians have signed our petition to change and clarify the law to ensure that cash can be used in all retail outlets for transactions under $10,000.
Join our campaign to ensure that our rights to use and access cash are not trashed by financial institutions and big merchants.
Like our Facebook page, visit our website, check out our online shop for cash-related apparel and merchandise. Together the people can win the war on cash.
COVID-19 led to an immediate scare and fear of virus transmission via surfaces.
Question marks over Fintech startups pile up as traditional business models flourish