People in Australia are being urged not to use banknotes, instead opt for contactless cards in an attempt to avoid the spread of coronavirus.
And, according to an expert, coronavirus would eliminate the need for cash altogether.
Many retail stores are not accepting cash from their customers in a desperate attempt to avoid catching the growing coronavirus.
Retail giants like Coles and Woolworths are still accepting cash but encouraging the customers to use cards and requesting the employees to use hand sanitizers frequently.
Furthermore, experts said that they are encouraging more number of Australians to switch to contactless payment methods, and people who are not participating in this approach should either wash their hands or wear gloves.
The Chief Economist for AMP, Shane Oliver said that amidst the coronavirus, the trend of card payments has significantly accelerated.
The experts continued by saying that the country was trying to move away from cash and switching to debit cards, credit cards, and wallet payments, and the spread of coronavirus has simply reinforced the agenda.
Furthermore, he said that when you visit a store, you can simply use your phone or card so that you can avoid touching any surface.
Oliver thinks that once the people are forced not to use cash, they might never go back to it. While he agrees that cash could never be completely eliminated, there is less number of ATMs accessible to the public.
Oliver explained that whenever he is dealing in cash, he ensures to wash his hand, in order to protect himself from catching the virus. More and more retailers in Australia have implemented cash-only payments.
Additionally, a Pharmacy in Sydney has banned the entry of people in the store, and it is only accepting cash payments. Customers can place their orders and take the order from the window.
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