What happened to the Cashless Society?

ATM cash withdrawals are trending up and there’s more cash on issue than ever before. New data from the Reserve Bank of Australia reveals the number of ATM cash withdrawals is trending up in 2022. The value of cash withdrawals is stable, indicating that cash is being withdrawn for daily use, not for hoarding. RBA data also shows the total amount of cash on

Afterpay Day: You’re paying for it

Afterpay Day is a promotion of buy now pay later debt running from Thursday 17th to the 20th March. Consumers can win prizes, get discounts or exclusive ‘drops’ if they choose to BNPL debt rather than paying outright for purchases. Afterpay and other BNPL lenders charge retailers 4 per cent (or more) and ban them from recovering the fee from consumers. Yesterday, the Buy

Young people discover cash and hashtag it

#CashStuffing and #100EnvelopeChallenge showcase young people rediscovering cash Wednesday 23 February 2022: Young people and students in Australia, New Zealand and globally are rediscovering cash – and hash tagging it.  Controlling their budget and saving for goals are the key reasons why increasing numbers of young people are rejecting phone, card and Buy Now Pay Later payments apps to use cash.

Government review of payments finds cash is critical to economy

It was supposed to be all about new technology like cards, phones, online commerce, crypto and digital currencies but the government’s Payments System Review made a surprising finding. Cash is critical to the economy and must be protected. Yesterday, treasurer Josh Frydenberg released the long-awaited Payments System Review which investigated how Australia’s payment system is run and governed. The review recognises that non-cash

Missing Meals to pay off BUY NOW PAY LATER debts

Buy Now Pay Later users are missing meals and essentials to pay their debts, more government data has confirmed. Services like Afterpay, ZipCo, Humm, LayBuy and others are leading young people (in particular) into financial hardship, despite not being classified as credit providers. There are reportedly 9.1 million active BNPL accounts in Australia. 21% of BNPL users rack up late fees, ASIC has reported while 20%

Cash – Don’t leave home without it

When I have cash in my pocket, I’m in charge. Don’t leave home without it.

Aristocrat ‘aggressively’ moving gambling behind closed doors.

COVID ‘leveraged’ to promote home gaming Aristocrat Leisure Limited (ASX:ALL) is successfully transitioning gamblers to online and digital apps and games and away from ‘physical’ gaming venues such as community based pubs and clubs. This is removing problem gambling from public sight, away from the oversight of regulators, containing the issue to homes. Monitoring, welfare checks and harm minimisation efforts

Single parent’s 5 minute guide to the budget

Josh Frydenberg’s budget 2021 is a document designed to curry favour with women and single parents with plenty of new funding and cash for people in difficult circumstances. But the government has neglected to raise JobSeeker or the Single Parent Payment. Get on top of everything single parents need to know about the 2021 federal government budget in five minutes.

Single Parent Family Home Guarantee ignores the real housing problem

On Tuesday the 11th of May, the treasurer Josh Frydenberg will announce the budget and a new program to help separated and divorced parents buy a home called the Single Parent Family Home Guarantee. Singlemum.com.au got the details of the package early. The Single Parent Family Home Guarantee will support up to 10,000 divorced / separated parents (who have care of dependent

Payment system ‘outages’ kill cashless economy myth

Osko, CBA failures just the latest to leave customers stranded. Today, reported problems with ‘Osko’ payments between banks facilitated by the New Payments Platform are leaving bank customers stranded and angry. Customers of all banks have reported the failure of the “Osko” real time transfer system to their banks overnight on the 27 April and the morning of 28 April