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Digital payments in Australia - statistics & facts

Australia is fast becoming a cashless society. Just over a decade ago, cash was the dominant form of payment for consumers. However, the use of digital payment methods, in particular debit cards, has gained traction and is fast becoming the most common way to pay in Australia. Apart from debit cards, newer alternative payment methods, such as e-wallets and mobile payments, are increasing their market share. Some of these technologies have been accelerated by the COVID-19 pandemic, which has encouraged businesses to accept non-contact payment methods as well as offering online e-commerce.

 Convenience is the common denominator

While cash used to be king and is still used in small-dollar transactions, the convenience and security of making payments via a digital method have led to the number of Australians increasing their use of digital payments. In terms of debit cards, Australians will be familiar with Eftpos, Visa, and Mastercard as the primary vendors. Debit cards are now the most common way to pay for transactions in-store or at other points of sale in Australia.

When considering payments for online transactions, card payments, which include debit and credit cards, are used by over half of consumers. Visa and Mastercard are the most widely used credit cards in the country, with an over 93 percent share of all credit card transactions.

Convenience has also led to e-wallets becoming increasingly popular to pay in stores, restaurants, and other points of sale with smartphones. Apple Pay and Google Pay are widely used, as well as major banks’ own ‘’tap and pay’’ systems.

Another growing segment that has changed how Australians are paying for products is the Buy Now Pay Later (BNPL) segment. Being able to spread the cost of a product over a set amount of time while paying no interest has driven growth for financial services such as Afterpay and Zip Pay.

 Digital payment outlook 

According to Statista’s Digital Market Outlook, the digital payment market in Australia is set to continue its growth, driven by both the digital commerce and mobile point of sale segments. While Australians are not short of options when it comes to digital payment methods, some of the more traditional methods, such as debit card payments, will likely remain the dominant form of payment in the short term. Even still, younger generations are more open to using alternative payment methods such as BNPL and e-wallets, which will dictate how the market changes in the future.

Key figures

The most important key figures provide you with a compact summary of the topic of "Digital payments in Australia" and take you straight to the corresponding statistics.

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Interesting statistics

In the following 5 chapters, you will quickly find the 30 most important statistics relating to "Digital payments in Australia".

Digital payments in Australia

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Digital payments in Australia - statistics & facts

Australia is fast becoming a cashless society. Just over a decade ago, cash was the dominant form of payment for consumers. However, the use of digital payment methods, in particular debit cards, has gained traction and is fast becoming the most common way to pay in Australia. Apart from debit cards, newer alternative payment methods, such as e-wallets and mobile payments, are increasing their market share. Some of these technologies have been accelerated by the COVID-19 pandemic, which has encouraged businesses to accept non-contact payment methods as well as offering online e-commerce.

 Convenience is the common denominator

While cash used to be king and is still used in small-dollar transactions, the convenience and security of making payments via a digital method have led to the number of Australians increasing their use of digital payments. In terms of debit cards, Australians will be familiar with Eftpos, Visa, and Mastercard as the primary vendors. Debit cards are now the most common way to pay for transactions in-store or at other points of sale in Australia.

When considering payments for online transactions, card payments, which include debit and credit cards, are used by over half of consumers. Visa and Mastercard are the most widely used credit cards in the country, with an over 93 percent share of all credit card transactions.

Convenience has also led to e-wallets becoming increasingly popular to pay in stores, restaurants, and other points of sale with smartphones. Apple Pay and Google Pay are widely used, as well as major banks’ own ‘’tap and pay’’ systems.

Another growing segment that has changed how Australians are paying for products is the Buy Now Pay Later (BNPL) segment. Being able to spread the cost of a product over a set amount of time while paying no interest has driven growth for financial services such as Afterpay and Zip Pay.

 Digital payment outlook 

According to Statista’s Digital Market Outlook, the digital payment market in Australia is set to continue its growth, driven by both the digital commerce and mobile point of sale segments. While Australians are not short of options when it comes to digital payment methods, some of the more traditional methods, such as debit card payments, will likely remain the dominant form of payment in the short term. Even still, younger generations are more open to using alternative payment methods such as BNPL and e-wallets, which will dictate how the market changes in the future.

Interesting statistics

In the following 5 chapters, you will quickly find the 30 most important statistics relating to "Digital payments in Australia".

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