Australians are trending towards using debit to pay for goods and services, according to eftpos.
January 2012 figures indicate a 9.8 per cent increase in eftpos transactions compared to the same period in 2011.
The data indicate more than half the purchases made with a debit or credit card in Australia in the 12 months to January 2012 were processed by eftpos, as people opted to access their own money at the checkout.
Total value of transactions also increased by 6.2 per cent in January 2012 compared to January 2011, although the average transaction size reduced slightly from $53.61 to $52.25.
There were 16.4 million more eftpos purchase transactions in January 2012 than in January 2011, or around half a million additional transactions every day.
eftpos cash out transactions volumes also increased by 1 per cent above January 2011 levels, and were 8.7 per cent higher than January 2010.
“The reduction in average transaction size in January 2012 may indicate a shift from small value cash transactions towards eftpos, as well as some budgetary control in uncertain economic times,” eftpos managing director Bruce Mansfield said
The trend towards debit is also demonstrated in the annual overall eftpos volumes and values which have grown strongly, year-on-year.
Mansfield said the total eftpos transaction volume had increased from 1,678 million in the twelve months to January 2010, to 2,191 million in the 12 months to January 2012.
He also said the value of transactions also grew from $108.5 billion two years ago to $132.3 billion in the twelve months ended January 2012.
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