Why Do You Need to Use Cash?

The Reserve Bank of Australia in June released a report to cash use and attitudes. This report has provided some useful insights into the evolving role and use of cash in the economy. Amongst other observations, an interesting trend identified in the report was in relation to the reason people need to use cash. The chart below shows a comparison in the reasons between 2022 and 2019. Importantly, the chart show a dramatic increase in the use of cash in relation to privacy/security concerns. This speaks to a key trend we have identified: people are increasingly concerned by the potential of cashless payment methods to be compromised by hackers or cyber criminals.

This month saw a major development in the fight against anti-cash interests. The NSW Government has announced that it will be delaying the trial of cashless gaming to an unspecified date. While not completely taking cashless gaming off the agenda, it is an important sign that there are issues in implementing such a program. ATMIA will continue to advocate against this policy which unfairly targets law abiding citizens who just want to have payment choice.

Planning has begun for ATMIAs 2^nd Strategic Direction teleconference that is scheduled for 24^th August at 4pm AEST. This is an open discussion for our members to address relevant industry issues in this region. If any membership has any issues you would like to be addressed at this forum, please send to [email protected] no later than 21^st July. Members in this region, will receive all relevant details to this teleconference next week.

Finally, a gentle reminder for you all to visit the ATMIA website for further details for the upcoming European and Emerging Market event. We strongly recommend you start planning and attend this first-class industry event.

Don’t forget the ATMIA team is always here to assist you and service your membership, feel free to contact us anytime.

We appreciate your continual trust and support in ATMIA.

Cheers,
Sandra Smith