Australia could become a completely cash-free society within 3 years (as reported in The Courier Mail 17/12/2018). This migration to a cash-free economy is due in part to the ease of tap-and-go payment solutions and online payment services. Governor of The Reserve Bank of Australia (RBA), Philip Lowe, says that Australia is at a turning point, with cash set to become a “niche payment”. Here in Australia we are already the sixth-highest users of electronic payments in the world, according to the RBA, with only 37 % of household spending done using cash compared with 69% a decade ago. University of NSW , Professor of Economics, Richard Holden said Australia could become a cash-free society in 3 years (ie 2021). So with the spending focus by consumers more towards card payments, how is your Business/Club/ Association placed to be able to accept this transaction surge in a “Costless” manner?

Boom In Tap and Go Payments In Australia

The number of customers making payments using a smartphone/I-Phone or smartwatch is surging as the desire to pay with cash or card declines.

Are you able to accept payments in this manner?

How are these transactions impacting on the fees charged by your bank?

If you have questions, please do not hesitate to contact me.

Kind Regards Mark

Earn More by Paying Less

With 8 out of every 10 transactions in our economy completed using credit/debit cards, this increase in card usage will more than likely lead to an increase in Bank Fees.

That’s right possibly an increase in fees for your Business Payment Solutions (for example EFTPOS, Direct Debiting, Online Payment Gateways for example).

So with bank fees increasing this will result in reduced profits for your business!!!!

Therefore what will you do as a result of reduced business profits?????

Increase the cost of your goods and services and face the possibility of losing clients to your competitors???

Or keep the cost of your goods and services as they are, and pass the cost of card acceptance to your clients ?? (which has been legal since September 2017).

There is no cost in talking with me, as I investigate helping you “earn more by paying less”.

Contact me if you wish to discuss this and other products to help you.

You can contact me on 0419 762 478 or by email for more information.