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?
