With Covid shifting physical transactions to contactless payments, do you think the pandemic has spelled the end for cash?
Cash use was one of the earliest behavioural shifts of the coronavirus pandemic, with physical transactions moving online when most retailers were forced to shut, and the hygiene-conscious essential services that remained open largely banning cash in favour of contactless payments.
While data from banks suggested Covid-19 was speeding up the demise of cash in favour of credit card and tap and go smartphone payments, Reserve Bank data released last week appeared to highlight one enduring appeal of banknotes to emerge from Australia’s second wave of Covid-19.
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