Aussies love shopping with cards
Consumers are embracing the "cashless society", racking up a record number of purchases on their credit and debit cards.
The number of credit and debit card transactions topped 444 million in December – a threefold increase on the same month a decade ago. The average purchase has plunged to its lowest level – $87.13 – as consumers increasingly use cards for smaller payments.
Commsec chief economist Craig James said that while Australians were wary of debt, they had embraced the "plastic fantastic".
Debit card transactions increased 6.8 per cent in the year to December to 36.1 million, while credit card sales were up only 1.4 per cent in the same period, to 15.2 million.
Source: Herald Sun