The pros of a cashless society

Australia’s heading towards a future where cash looks like being a thing of the past. These days, you can grab a coffee, go to the movies, or a restaurant without ever touching a banknote. A lot more people are using card or phone for payment

We have gotten used to it. It is quick, easy, and we do not have to fumble around with coins anymore. But at the same time, a lot of people are wondering, are we moving too fast? Is a completely cashless society a good thing for everyone?

1. It is Convenient

Nobody misses standing in line for the ATM, with tap-and-go, Apple Pay, or PayI D, you can pay in seconds and move on with your day without waiting for change. Whether you are at Coles, a weekend market, or the servo, digital payments make life simpler.

Even when you are splitting a dinner bill or paying your share of the rent, it is dead easy to send money straight from your banking app. No more awkward “I’ll pay you later” excuses.

2. Makes Business Easier Too

For business owners, ditching cash saves a ton of time. No more counting tills, no more running to the bank with the day’s takings, and way fewer errors when it comes to handling change. Everything is cleaner and easier with digital transactions, and it’s all trackable in real-time.

Most POS systems now handle reporting, staff timesheets, and even stock tracking. Not bad for a system that started with just tapping a card.

3. Less Risky Than Carrying Cash

Carrying cash always comes with a bit of a risk, whether it’s being robbed, losing your wallet, or just dropping a note on the street. With digital payments, you can freeze your card instantly or tap into your app to keep things secure. Plus, if someone tries something dodgy, most banks will help sort it out.

And from a broader point of view, less cash floating around means less tax dodging, less crime, and more transparency overall.

4. Helps the Tech Industry Grow

Aussie fintech is booming. We have got homegrown names like Afterpay and Zip changing how people shop, and app-based banks like Up and 86 400 popping up with smart features you would never see in the old days.

And with things like wearable payments—smartwatches, payment rings, and even phone cases that let you tap—we are not just cashless, we are also hands-free.

5. Good for Travel Too

Heading overseas or welcoming tourists? Cashless makes it easier. Most places overseas now accept Aussie credit/debit cards or Apple Pay. And tourists visiting here don’t need to worry about exchanging wads of currency—they can just tap like the locals.

6. More Hygienic

After COVID hit, the idea of handing over physical money did not sit well with many people. It’s no surprise shops pushed for contactless payments during the pandemic—and it’s stuck. It’s just cleaner, and we’ve all gotten used to it.