Australia is one of the most cashless economies in the world. Understanding how payment habits are shifting helps you make better decisions about your business — from choosing the right EFTPOS terminal to setting your pricing strategy. Here are the numbers that matter in 2026.
Cash Is Declining Rapidly
Cash now accounts for just 13 per cent of consumer payments in Australia, down from 27 per cent in 2019. This decline accelerated during the pandemic and has not reversed. For businesses, this means that not accepting card payments is no longer a minor inconvenience for customers — it is a reason to go elsewhere.
Card and Contactless Payments Dominate
Over 90 per cent of in-person payments in Australia use EFTPOS, contactless cards, or digital wallets. Contactless tap-and-go is the dominant payment method, with most transactions completed in under five seconds. Debit cards account for over 75 per cent of all card payments — this is important because debit transactions are typically cheaper for merchants than credit.
EFTPOS Infrastructure
Australia has approximately 981,000 EFTPOS terminals processing over 2 billion transactions annually. The EFTPOS device fleet has been growing steadily, with over 46,000 new terminals added in the past year. The average merchant fee for EFTPOS transactions is 0.44 per cent, though this varies significantly by provider and card type.
Digital Wallets Are Growing
Apple Pay, Google Pay, and Samsung Pay are now widely accepted across Australian businesses. These payments use the same EFTPOS terminal infrastructure — the customer taps their phone or watch instead of a card. For merchants, there is no difference in processing — digital wallet payments are treated as contactless card transactions.
What This Means for Your Business
If you are not yet accepting card payments, you are likely losing sales. If you are accepting cards but using outdated terminals, you may be paying higher fees than necessary. Modern EFTPOS terminals from providers like BuzzPay process transactions faster, integrate with your POS system, and support all payment methods including digital wallets. The investment in a modern payment setup pays for itself quickly through reduced friction, faster service, and lower transaction costs.
