Why Digital Payments Should Be On Your Radar Ahead Of Your Australia Move

Why Digital Payments Should Be On Your Radar

If you are planning to travel to or work in Australia, there are plenty of things you will need to consider ahead of time. However, one fundamental issue to think about is how you will pay for goods and services while in the country. While traditional methods like bank cards and cash remain an option, new research has suggested that some intriguing alternatives are attracting attention in the country right now. So, could it be time to go digital when you hit these shores?

A major impact

There is no denying that digital payment options have been making their presence felt for some time now. Their impact is being seen in a range of areas across the globe and there is plenty of evidence to highlight that. For instance, the Google Pay website details how UK consumers can use the service across a range of different areas. It references apps and sites for everything from travel to food, including the likes of Uber and Just Eat.

Elsewhere, it also highlights supermarket retailers like Aldi and Morrisons, as well as the Costa coffee brand. Closer to Australia, this guide on all you need to know about casinos in New Zealand devotes a section to the banking options that can be used across various sites. It refers to a host of different payment providers, including PayPal, POLI and Paysafecard. E-wallets such as Neteller and Skrill are also referenced as options.

With all of this in mind, it is perhaps not surprising that digital and online payments are expected to enjoy a successful future. Earlier this year, a Juniper Research study suggested that the total spend involving digital wallets will go beyond $10 trillion globally in 2025.

In the spotlight

But what is the specific state of play in Australia? Well, a new analysis by the Australian Banking Association (ABA) has put the issue in the spotlight.

It found that more than one in three Australians with a smartphone use a digital wallet, with this marking an increase from the figure of 18 per cent seen in March 2020. In addition, 71 per cent of smartphone users stated that they use the services weekly. This was up from the figure of 40 per cent recorded in 2019.

The ABA also referenced RBA data that indicated a decline in the use of cash and credit cards, while it added that ATM withdrawals had fallen. In addition, it found that more than 80 per cent of Australians now prefer to check balances and pay bills online.

Changing landscape

When all of that is considered, it seems fairly apparent that the payments landscape is changing right now. Digital payment options are becoming popular in many ways and it seems they are making a real impression on people across Australia.

So, if you are preparing to move to the country, it is well worth ensuring that you are across the latest trends beforehand. Having the right knowledge about payment methods could stand you in good stead as you take the first steps into your Australian adventure.