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How contactless payment cards are the path to a less-cash society

Card payments have overtaken cash for the first time in Australia, with transactions on debit and credit cards doubling since 2007 to become the most frequently used payment method, according to the Reserve Bank of Australia's recently released Consumer Payments Survey. In 2007, 69 per cent of all purchases were paid by cash. Now cash payments have fallen to just 37 per cent.

The RBA's March 2017 bulletin states that "The decline in the use of cash relative to other payment methods since the 2013 survey mainly reflects consumers switching to contactless cards for lower-value payments".


The bulletin also reports that "around one-third of all point-of-sale transactions were conducted using contactless cards in 2016" - an increase of 350% over the share reported by participants in the 2013 survey.


How to Succeed with Contactless Payments
Following keynote addresses, the first speaker in the 8th Asian Payment Card Forum will be Cris Topfner-Rigby, Head of Merchant Acquiring and Payments Systems for Coles Australia. Coles is one of Australia's leading retailers, a member of EFTPOS Australia and the retailer accepting the highest proportion and number of contactless payments worldwide.

Converting cash payments to e-payments
In contrast to the 2017 RBA figures above, card payments accepted by Coles overtook cash payments in 2014 and are now 75% of payments. Today nearly 80% of international payment scheme card payments accepted by Coles are made with contactless payment cards.

Learn from the global leader in contactless acceptance
Coles and other retailers in Australia have set the global benchmark for success with contactless acceptance. In her presentation Cris will explain the best practices that are required to succeed in converting cash payments to contactless payments.




Please visit our website to register online! For details about the 8th Asian Payment Card Forum, or to enquire about sponsorship and exhibiting packages, please contact:

Elaine Li, Business Development Manager at elaine.li@apsca.org or +86 13671773143.

Abhijit Sengupta, Director of APSCA India at abhijit@apsca.org or +91 98310 01116 / +91 98731 30155.



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