Australia will be almost completely cashless within three years, with the COVID-19pandemic speeding up the decline of coins and notes, new research says.
Just 2.1 per cent of point-of-sale transactions in Australia will be in cash by 2024, down from 8.3 per cent in 2020, predicts fintech company FIS in its sixth annual Global Payments Report.
Globally, cash made up 20.5 per cent of transactions in 2020.
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