The Australian federal government is preparing to introduce new legislation by 2026 that would require certain businesses to accept cash payments, as the use of physical currency continues to decline nationwide. The proposal targets around 1.5 million Australians who still rely primarily on cash for daily purchases — more than 80% of whom are elderly, live in remote areas, or lack access to digital payment tools.
Under the draft plan, the mandatory cash acceptance rule would apply only to supermarkets, petrol stations, and large businesses with annual revenue exceeding $10 million, and would cover face-to-face transactions below $500. The government says the measure aims to preserve consumer choice for essential goods like food and fuel, while avoiding undue burdens on small businesses. Assistant Treasurer Stephen Jones said the proposal seeks “a balanced approach between consumer needs and business practicality,” emphasizing that the rule will not apply across all industries.
The move, however, has stirred significant debate. The National Seniors Australia (NSA) criticized the draft as too narrow, arguing that the policy should extend to pharmacies, utilities, and government services to better protect vulnerable groups reliant on cash. Meanwhile, advocates from the Cash Welcome campaign warned that compliance costs could rise for major retailers, potentially creating new economic risks.
Cash usage in Australia has been falling sharply for over a decade. According to the Reserve Bank of Australia, the share of cash transactions dropped from 70% in 2007 to just 13% in 2022. Experts caution that while mandating cash acceptance may safeguard inclusion for certain groups, poor implementation could ironically accelerate the shift toward a cashless society, further marginalizing those left behind by the digital economy.