The cashless economy is making Australians less generous

March 27, 2017 Share Source

A survey conducted by ME Bank in Australia shows that of 2,000 transaction account holders, 61% felt they were using less cash than they did five years ago while a sturdy 39% claimed they were using the same or more cash in everyday transactions.

This suggests that there is an evident 'inclination towards digital currency’.

The same 61% who represent the inclination, believe that it has resulted in ‘a negative effect on tradespeople, waiters […] and the less fortunate who rely on cash’. They see their sense of generosity declining in correlation with the drop in their cash use.  

Since five years ago, they feel they use cash 51% less often when paying for services and 45% less often when tipping. The survey also revealed that of the 2,000, they are 42% less likely to give to charity and 44% less likely to give to a buskers or the homeless.

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Last Updated: June 22, 2017