4/30/2023 0 Comments Google digital wallet![]() ![]() Commonwealth Bank tracked a 90% increase in their customers’ digital wallet transactions between March 2020–21, “ with the value of monthly transactions rising to $2.1 billion, up from $1 billion”.īut it’s not only the contactless payment feature of digital wallets driving this change. Government figures show that only about one-third of all consumer payments are still made with cash, and that almost half of all Australians have now used their mobile phones to pay for something. Reserve Bank of Australia Governor Philip Lowe told industry experts recently that “this trend is likely to continue”, as Aussies abandon cash and instead opt for COVID-19-prevention friendly contactless payments and online transfers. The days of jeans-busting wallets or handbag-clogging purses are surely numbered, as Aussie shoppers increasingly ditch them for a digital wallet. Canstar’s Digital Editor Amanda Horswill takes a look at what can be stored in them and where to find one, and supplies tips on how to work out which one to choose. ![]() Digital wallets allow people to store their banking information, identity documents and other important information on their mobile device, replacing the need to carry around a physical wallet. ![]()
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