{"id":1936,"date":"2017-05-17T12:41:09","date_gmt":"2017-05-17T02:41:09","guid":{"rendered":"https:\/\/newsroom.ing.com.au\/?p=1936"},"modified":"2017-05-17T12:41:09","modified_gmt":"2017-05-17T02:41:09","slug":"one-in-four-australians-wants-a-cashless-society","status":"publish","type":"post","link":"https:\/\/newsroom.ing.com.au\/one-in-four-australians-wants-a-cashless-society\/","title":{"rendered":"One in four Australians wants a cashless society"},"content":{"rendered":"<p><strong>17 May 2017:\u00a0 <\/strong>Australians\u2019 appetites for cashless payments, including contactless card payments and mobile payments, is continuing to grow, with <a href=\"https:\/\/www.ezonomics.com\/ing_international_surveys\/mobile-banking-2017-cashless-society\/\"><em>ING\u2019s International Survey Mobile Banking 2017 \u2013 Cashless Society<\/em><\/a> revealing that 24% of Australians say they would go completely cashless if given the choice.<\/p>\n<p><strong>Key insights<\/strong><\/p>\n<ul>\n<li>More than half (53%) say they use cash much less than they did 12 months ago<\/li>\n<li>27% say they don\u2019t usually carry cash<\/li>\n<li>27% say they would be comfortable getting by without cash \u2018forever\u2019<\/li>\n<li>43% are confident they could manage without cash for one month<\/li>\n<li>More than half (57%) say they could get by without cash for one week<\/li>\n<\/ul>\n<p>John Arnott, Executive Director, Customers, at <a href=\"https:\/\/www.ingdirect.com.au\/\">ING<\/a> commented: \u201cThis move away from physical cash goes hand in hand with our increasing use of technology, and in particular mobile technology, across many aspects of our lives.<\/p>\n<p>\u201cMany of us get our news from our phones, we set up appointments, we book an Uber and order our dinner on the way home, and we do our banking and shopping on our phones. A year ago you would see very few people using their smartphone to pay at a caf\u00e9, but today it\u2019s rapidly becoming commonplace.\u201d<\/p>\n<p>If given the choice between cash-only or cashless payments, 66% would choose to visit a store that only accepts cashless payments, rather than a store that only accepts notes and coins.<\/p>\n<p><strong>Cash still king for smaller purchases<\/strong><\/p>\n<p>While cash is increasingly falling out of favour for many, ING\u2019s research shows that it\u2019s still king when it comes to smaller purchases.<\/p>\n<ul>\n<li>86% still favour cash for smaller purchases under $15<\/li>\n<li>79% of people don\u2019t believe they will ever go completely cashless<\/li>\n<li>Just over half (53%) still carry up to $60 of cash in their wallet<\/li>\n<li>76% of people used cash in the last three days<\/li>\n<\/ul>\n<p>Mr Arnott added: \u2018Australia got its first ATM only 40 years ago, and in a relatively short space of time we\u2019ve been given so much more choice in how and when we make payments.<\/p>\n<p>\u201cWe\u2019re seeing our customers increasingly favour payment methods that don\u2019t involve a traditional wallet, but rather a smartphone. Cash used to be king, and while there is still clear demand for notes and coins, its crown is slipping as technology makes payments increasingly easy, secure and convenient.\u201d<\/p>\n<p><strong>-ENDS-<\/strong><\/p>\n<p><strong>Media contact<\/strong><\/p>\n<p>David Breen<\/p>\n<p>Head of Corporate Affairs, ING<\/p>\n<p>M:\u00a0 +61 412 933 060<\/p>\n<p>E: <a href=\"mailto:david.breen@ingdirect.com.au\">david.breen@ingdirect.com.au<\/a><\/p>\n<p>Kristen Costandi<\/p>\n<p>PR Manager, ING<\/p>\n<p>M: +61 413 317 225<\/p>\n<p>E: <a href=\"mailto:kristen.costandi@ingdirect.com.au\">kristen.costandi@ingdirect.com.au<\/a><\/p>\n<p><strong>About the ING International Survey<\/strong><\/p>\n<p>The ING International Survey aims to learn how retail customers \u2013 and potential customers \u2013 around the globe spend, save, invest and feel about money. It is conducted online several times a year, with reports hosted at <a href=\"http:\/\/www.ezonomics.com\/iis\">www.ezonomics.com\/iis<\/a><\/p>\n<p>Ipsos conducted the <em>\u2018ING International Survey Mobile Banking 2017 \u2013 Cashless Society\u2019<\/em> between 7 February and 27 February 2017. Sampling reflects gender ratios and age distribution, selecting from pools of possible respondents furnished by panel providers in each country. European consumer figures are an average, weighted to take country population into account. 15 countries are compared in this report.<\/p>\n<p>About 1,000 adults over 18 were surveyed in each country, apart from Luxembourg, with 500. 14,692 is the total sample size of this report.<\/p>\n<p><strong>About ING<\/strong><\/p>\n<p><a href=\"https:\/\/www.ingdirect.com.au\/\">ING<\/a> changed the way Australians bank 18 years ago by launching the country\u2019s first high interest, fee free online savings account. Since then, we\u2019ve brought this same value to home loans, transactional banking, superannuation and insurance.<\/p>\n<p>With over 1.6 million customers \u2013 and $34 billion in savings and $40 billion in mortgages \u2013 ING has the highest Net Promoter Score of any bank.<\/p>\n<p>Australia\u2019s most recommended bank.<\/p>\n<p>Source: Nielsen Consumer &amp; Media View Mar \u201816 \u2013 Aug \u201816 (n=10,597) when compared by customers of 14 other banks operating in Australia.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>17 May 2017:\u00a0 Australians\u2019 appetites for cashless payments, including contactless card payments and mobile payments, is continuing to grow, with ING\u2019s International Survey Mobile Banking 2017 \u2013 Cashless Society revealing that 24% of Australians say they would go completely cashless if given the choice. Key insights More than half (53%) say they use cash much [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1936","post","type-post","status-publish","format-standard","hentry","category-general"],"acf":[],"_links":{"self":[{"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/posts\/1936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/comments?post=1936"}],"version-history":[{"count":2,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/posts\/1936\/revisions"}],"predecessor-version":[{"id":1938,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/posts\/1936\/revisions\/1938"}],"wp:attachment":[{"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/media?parent=1936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/categories?post=1936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/tags?post=1936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}