Contactless Revolution: The Decline of Cash Among Tradies
Digital Payments Transform Tradie Transactions in Australia
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
Australia is embracing a cashless economy, a trend that is significantly reshaping how tradespeople, or "tradies," handle transactions in their day-to-day operations.
Graham Tomkinson, a Western Australian tradie, typifies the shift away from paper money. "Nowadays, nobody pays with cash," he says. Tomkinson has not used cash both in his professional and personal life, a stark contrast to his earlier years when he would carry pocket money.
"I keep my wallet in the car simply to store my Medicare card and tool receipts. If someone stole it, I'd just need to re-register for another Medicare card," explains Tomkinson. This casual approach highlights the diminished presence of cash in his life.
Harrison Lockyer, a 20-year-old mechanic, seconds Tomkinson's experience: "EFTPOS is ubiquitous now. The only time I keep cash is for buying car parts or in case our EFTPOS network fails."
Steven Sousamlis, a builder who operates a bathroom renovation business in Sydney, believes the move towards a cashless society is inevitable. "It's increasingly rare for stores to prefer cash. Obtaining cash from banks feels more tiresome, almost like an inquisition," says Sousamlis. "With ATMs becoming rarer, carrying cash is more of a hassle than it’s worth nowadays."
Phil Cooksey, currently a general manager at Apprentices Are Us LTD and former tradie, vividly remembers when cash ruled the trades industry from 2002 to 2018. "We used to prefer cash. It simplified transactions and often meant work could be done more cheaply. Handling cash was an everyday occurrence," he recounts.
Cooksey is critical of how the decline of cash impacts the perceived value of money. According to him, a $50 note used to be worth $50 throughout, whereas now every card transaction chips away a small percentage. "Each bank fee diminishes the total transaction value," he laments.
Besides the practical shifts, there's a sentiment shared by Graham Cooke, head of consumer research at Finder, suggesting that "cash is dead.” Finder's research shows that ATM usage has been plummeting since 2008 and could disappear entirely by 2030 if the current trajectory continues.
This evolution towards a cashless economy, though gradual, exemplifies how technology and convenience are driving significant shifts in traditional practices, even for cash-dependent professions like trades.
Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.
In the first quarter of 2026, Australians have borrowed a record $5.1 billion in personal loans, according to the Australian Bureau of Statistics. This significant increase reflects the mounting financial pressures faced by households due to escalating living costs. - read more
In response to ongoing global disruptions affecting local industries, the Australian government has expedited the release of $6.15 billion in concessional capital to support businesses. This initiative aims to protect manufacturing and supply chain enterprises from market volatility and to encourage investments in production capacity and decarbonisation efforts. - read more
Plenti Group Limited has reported a remarkable 117% increase in Cash Profit Before Tax (PBT), reaching $30.8 million for the financial year ending 31 March 2026. This substantial growth underscores the company's successful execution of its strategic objectives and the robustness of its digital lending platform. - read more
A financial setback can happen for various reasons, whether it's due to unexpected medical bills, job loss, or other unforeseen expenses. These setbacks often cause significant challenges in managing your finances. - read more
The landscape of personal finance is continuously evolving, and in Australia, this includes the manner in which debt is managed. In recent times, an increasing number of Australians have found themselves navigating the complex maze of personal debt, from credit cards to student loans, and grappling with the impact this has on their financial well-being. - read more
As a personal loan seeker in Australia, understanding interest rates is crucial. Interest rates significantly impact the overall cost of your loan and your monthly repayments. Being well-informed ensures that you make the best financial decision for your situation. - read more
No comments yet. Be the first to share your thoughts.