Australia is hurtling towards a cashless society – another act of ageism?

Independent Queensland MP Bob Katter has highlighted a growing trend in Australia that has seniors’ advocates on the warpath.

The former Nationals MP was recently furious after his bid to pay for food at a café in Canberra's Parliament House with a $50 note was rejected.

It’s yet another sign of Australia’s move towards a cashless society. A recent report by the Australian Banking Association said the use of digital wallet payments on smartphones and watches has soared from $746 million in 2018 to over $93 billion in 2022.

Cash only accounts for 13% of consumer payments in Australia at the end of 2022, a stark contrast to 70% in 2007.

But what about older people?

“The move to a more cashless society – and with it the phasing out of cheques, ATM and bank closures – has been happening for some time now,” National Seniors Australia chief Chris Grice told NCA NewsWire.

“However, there are many seniors and others who would be greatly inconvenienced and experience hardship if cash was difficult to access or use.”

Chris said cash was still a valid form of currency and should be accepted.

“Some seniors may not be comfortable banking online because they’re not tech savvy, they’re afraid of online and credit card scams, cash is what they know, and it’s their only way to make financial transactions,” he said.

“Doing any business online can come with a range of problems and risks, from inability to transact during system outages to data breaches.

“The move towards a cashless society should be made with seniors and others in mind.”

Uber has recognised the importance of the older customer – why can’t Australian businesses do the same?

 

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A special thanks to our contributors

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Caroline Egan

DCM Media, agedcare101

Caroline has a wealth of experience writing within the retirement and aged care sector and is a contributing journalist for the Villages.com.au and agedcare101 blog and accompanying newsletters.

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Ian Horswill

Journalist

Ian is a journalist, writer and sub-editor for the aged care sector, working at The DCM Group. He writes for The Weekly Source, agedcare101, villages.com.au and the DCM Institute fortnightly newsletter Friday. Ian is in daily contact with CEOs of retirement living, land lease and the aged care operations and makes a new contact every week. He investigates media releases, LinkedIn and Facebook for a good source for ideas for stories.

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Lauren Broomham

Retirement and Aged Care Journalist

Lauren is a journalist for villages.com.au, agedcare101 and The Donaldson Sisters. Growing up in a big family in small town communities, she has always had a love for the written word, joining her local library at the age of six months. With over eight years' experience in writing and editing, she is a keen follower of news and current affairs with a nose for a good story.

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Jill Donaldson

Physiotherapist

Jill has been practicing as a clinical physiotherapist for 30 years. For the last 13 years she has worked solely in the Aged Care sector in more than 50 metropolitan and regional facilities. Jill has also toured care facilities in the US and Africa and is a passionate advocate for both the residents in aged care and the staff who care for them. She researches and writes for DCM Media.

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Chris Baynes

DCM Media, agedcare101

Chris has been a journalist and publisher in the retirement village and aged care sectors for 11 years. He has visited over 250 retirement villages and 50 aged care facilities both within Australia and internationally. Chris is a regular speaker at industry conferences plus is a frequent radio commentator.

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Annie Donaldson

Nurse and Carer

Annie has a long career in both nursing and the media. She has planned and co-ordinated the medical support from both international TV productions and major stadium events. In recent years she has been a primary family carer plus involved in structured carer support.