Aussies love their debit cards

Australians have embraced low-cost debit cards for everyday transactions. Most transaction accounts now have a Visa or Mastercard debit card attached.

The Reserve Bank of Australia reports that the number of transactions paid for via debit card in November 2015 was 373.3 million, compared with 202.2 million purchases put on credit cards.

Our preference for debit over credit on smaller everyday transactions has grown over the past decade. The number of purchases paid for with debit cards overtook those made on credit cards in 2005.

Source: The Age