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Dear ATMIA Member,
Earlier this week a major service outage prevented many small businesses across the country from processing EFTPOS payments. This meant a significant inconvenience for customers and lost transactions for businesses. The message is clear: cash remains an indispensable part of the payment system and only cash can offer a universally accepted, safe, secure, and discrete method of payment.
Members have now received a draft copy of our Industry Position Paper on calling for a ban on Cashless Retail Establishments. The main objective of the paper is to protect the role of cash in the Australian Payment System. We welcome any feedback from our members on this Position Paper no later than 14th July. Moving forward, ATMIA's next step will be to lobby various groups and Associations to gain their support on a ban on refusing cash at retail outlets.
The next Strategic Direction Committee teleconference is scheduled for August. All details related to SDC will be forwarded to members in the coming weeks. In the interim, if there is a topic you would like to be discussed at this forum, please contact sandra.smith@atmia.com no later than 14th July.
A reminder that exhibitor stands and sponsorship packages are still available at the Next-Gen ATMs and Payment event being held in Sydney on 9th-10th December. If you would like to showcase your products and services then please contact Reena Kaur, Conference Director, for further details.
Finally, as we continue to see some nations successfully getting the pandemic under control and some less so, our thoughts are with everyone affected or suffering during these times.
Stay safe and stay strong.
Thanks
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MEDIA RELEASE
AUSTRALIANS SAY CASH IS SAFE, PREFERRED
AND RELIABLE DURING COVID-19
23 June 2020
Australians have endorsed cash as a safe, preferred, and reliable form of payment during COVID-19, according to new research.
According to the Next Payments Consumer Sentiment Survey of over 1,000 participants on Payment Preferences, an overwhelming majority of Australians of all ages want businesses to accept cash payments – and four out of 10 Australians avoid businesses that do not accept cash payments.
Key findings from the survey of Australians’ sentiments on payment preference are:
• More than 95% of Australians want the freedom of choice to pay for goods and services with cash, and 82% consider it unfair that some businesses do not accept cash.
• 74% of Australians are concerned at hidden fees associated with card payments.
• 63% consider cash payments surcharge-free at point of purchase.
• 40% of Australians avoid businesses that do not accept cash.
Nearly half consider paying with cash to be safer and cleaner than paying with cards.
• 77% consider cash to be the most reliable form of payment.
• More than half of Australians consider it easier to budget with cash.
Next Payments CEO Tim Wildash said that while COVID-19 is disrupting businesses and lifestyles, cash is safe, secure and remains key to economic stability.
“Australians say cash is safe, preferred and by far the most reliable payment method,” said Mr Wildash.
“Our research shows that businesses that reject cash are losing customers. Customers do not want to pay hidden fees on card payments. There are no hidden fees or surcharges at point of purchase with cash. In a difficult trading environment, businesses need to do everything they can to keep and win over more customers. In this instance, business success means accepting and encouraging customers that pay with cash.”
“The Royal Australian Mint, the World Health Organisation, the Reserve Bank of New Zealand and many medical experts conclude there is no connection between cash and the spread of COVID-19. Our research shows that Australians agree,” Mr Wildash said.
Click here for the full survey results.
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ATM Industry News and Items of Interest.
The crisis, our freedom and our money Published Tuesday, June 23, 2020 Unlimited availability of our money and its ability to be used as a medium of exchange create certainty and lead to personal freedom. But which payment method is proving to be the most robust in any crisis? A reflection on the value of cash in a free...
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Member Rate = $1000 for 1 Issue, or $1500 for 2 Issues-
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A Terrific Resource
Is ATMIA's Executive Director, Sandra Smith, for the Asia Pacific region. Feel free to reach Sandra by email at sandra.smith@atmia.com or telephone +61 424 300 660 anytime.
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