Australia Mandates Cash Acceptance for Essentials

The Australian government will mandate that businesses accept cash payments for essential items like groceries and fuel, addressing concerns for the approximately 1.5 million Australians who rely on cash for over 80% of their in-person transactions. Treasurer Jim Chalmers emphasized the importance of cash as a lifeline for many, especially those in regional areas or unable to use digital payments. While the mandate will apply to larger businesses, small businesses may be exempt based on various factors, including size and location. Additionally, the government plans to phase out cheque usage by 2029, with consultations starting soon to determine which businesses fall under the cash mandate. The move comes as cash acceptance declines, with 94% of businesses currently accepting it, while the government aims to ensure its continued availability for essential services. This mandate aligns with similar measures in countries like Spain and France.