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Is cash dead in Australia? (nord.pub)
submitted 1 week ago by to c/australia@aussie.zone
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I mean, since the last time I've visited: it seems like no one ever carries it. I prefer it because CC charge additional fees (which end up making the item cost more) I have a small rant about that: STOP RIPPING OFF PEOPLE WITH THOSE SURCHARGES?! (It should be 0 rather than 1%) as it may seem trivial, they add up overtime. Are stores allowed to refuse cash payments outright despite them being legal tender?

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[–] 2 points 1 week ago

The metadata of being able to associate a transaction with an individual is much more valuable.

A business dealing with Cash is a legal liability because a transaction cannot be associated with an individual, especially if it technology.

Burner phones aren’t a thing in Australia. A lot of car dealers refuse to take cash payments due to laundering; it is legally safer for them to illegally reject cash than for them to get embroiled in more serious illegal activity.

Counterfeiting is also a concern as technology enables higher quality fake currency.

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