If you want to know what's next in payment innovation, click here and visit Visa's new blog and watch Country Manager, Vipin Kalra's video.
Here is an overview:
- 38 percent of Generation Y would like to eliminate cash altogether from their wallets compared to 14 percent of Baby Boomers.
- Nearly one in two mobile phone users in Australia now owns a smartphone.
- Cash is on the decline, card use is growing and smartphones are penetrating the market
- It's also pretty clear that attitudes to money and spending are changing and innovation in payment products and services will be critical to staying relevant to future generations. Watch the full video here.