Cash is here to stay
Demand for a mix of payment options is expected to continue for the foreseeable future.
A new report confirms that many Australians, especially seniors, favour cash over digital payments for important transactions.
While the use of digital money apps is accelerating globally, cash is still expected to account for 9% of all payments in Australia by 2030.
That figure rises to nearly 20% for Australians aged 55 and above, with seniors saying cash is their most frequent in-store payment method.
The Global Payment Report 2026 suggests the sustained interest in cash use is driven by increases in the cost of living.
The report reflects previous research and concerns among older Australians that gave rise to the successful National Seniors Australia (NSA) Keep Cash campaign and the Federal Government’s cash mandate.
Many of us are turning to physical money to control spending, with cash offering a tangible way to stick to limits and avoid overspending on tap-and-go purchases.
Older Australians have long relied on cash as a budgeting tool and seem set to do so for the foreseeable future.
The Reserve Bank of Australia’s 2025 Consumer Payments Survey noted that about half of Australians still use cash in a typical week, and it accounts for roughly 15% of all transactions.
Crucially, usage is higher among people aged 65 and over, as well as those on lower incomes. These are the groups more likely to feel financial pressure and value strict budget control.
The Global Payments Report suggests that the future of payments is not strictly cashless but hybrid. While digital methods dominate growth, cash continues to serve as a complementary option.
For businesses, continuing to accept cash alongside newer forms of payment means meeting the needs of all their customers.
For seniors, the appeal of cash extends beyond budgeting. Many prefer it for its simplicity, reliability, and security.
Cash transactions do not rely on internet access or digital literacy, which can be barriers for older Australians. There are also concerns about scams and privacy, with physical currency offering anonymity and reducing exposure to fraud.
Additionally, cash serves as a backup during outages or emergencies, reinforcing its role as a trusted and resilient payment method.
As NSA CEO, Chris Grice, says, “Since July 2024, NSA has been championing the need to keep cash accessible and accepted. Not all seniors are comfortable using debit or credit cards, or banking online, because they’re not tech-savvy, they’re fearful of potential scams, and cash is what they’ve always known.
“Furthermore, doing any business online comes with problems and risks. In emergency situations and during outages, when electronic systems crash, cash plays a vital role. And in these times of global uncertainty, it also provides security.”
If you want to know more about NSA’s advocacy in this area, read about our partnership with atmx, get free “Keep Cash” and “We Accept Cash” stickers, and join the Keep Cash campaign, click here.
Related reading: News, Global Payments, RBA
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