Mobile payments jumped by almost 30 percent last year and now outnumber ATM cash withdrawals by more than 10 to one.
A new Australian Banking Association (ABA) report shows Australians made a $160 billion worth of payments with their mobile wallets last year.
ABA CEO Anna Bligh said digital payments continued to surge with over four billion mobile wallet transactions made in 2024-25, over 11 times the number of ATM cash withdrawals.
“The value of mobile wallet payments has grown twenty-three-fold since 2019, with a 28 percent increase in the last year alone,” Ms Bligh said.
She said 99.3 percent of customer-bank interactions now occurred via digital channels and bank branch interactions had fallen by 51 percent since 2019, as people moved to digital banking platforms.
“We are undergoing a massive transformation in how people bank in this country.
“More and more Australians are jumping online to do their banking.”
Ms Bligh said digital options were reshaping how people interacted with their bank and manage their finances.
“Making payments with your phone is also now the norm for millions of customers. Mobile wallet usage continues to surge and is closing in on the use of physical cards or cash.”
Download: Bank on It Report 2025
