Share of consumer payment methods in Australia 2007-2019

In 2019, card payments dominated consumer payment transactions in Australia, with a share of around 63 percent. While the usage of cards for payments has seen a steady rise since 2007, the opposite was true for cash payments, which have been decreasing as Australia moves closer towards becoming a cashless society.

 Debit cards in Australia 

Debit cards are used extensively in Australia to make purchases. The latest full-year figures showed that the number of debit card purchases had increased steadily across the country. In Australia, there are two main types of debit cards: an Eftpos card and a Visa or Mastercard debit card. While Eftpos is an Australian payment system owned by banks, Visa and Mastercard debit cards provide similar functionality to a credit card. Both systems work in the same way in that purchases from the card are paid for by money in the users’ bank account.  

 Alternative payment methods 

  Largely out of convenience, consumers are beginning to choose alternative methods to pay, including mobile payments (such as Apple and Google Pay), e-Wallets (such as PayPal), and through Buy Now Pay Later schemes (such as Aftepay). In a recent survey among consumers who had used online payment methods, the majority of respondents had used PayPal in the past year. Apple Pay and Afterpay were also commonly used to pay in stores, restaurants, and other points of sale with smartphones, which suggests Australians’ growing acceptance of alternative payment methods.