The use of cash in Australia has been gradually declining for many years – from 69% of payments in 2007, to 27% in 2019. This looks set to decrease further in these uncertain times, as cash is increasingly viewed as an unhealthy and potentially dangerous way to pay.
Recent reports show how some front-line employees are increasingly anxious about handling cash with some merchants banning cash payments altogether for health reasons.
The NPP has an important role to play by offering a genuine alternative for those that don’t want to handle cash and Azupay is proud to be doing our bit to simplify and scale this process further.
Azupay merchants don’t need to give away their PayID or banking details. Instead, Azupay manages this process to ensure their payments can scale and are instantly reconciled, while the funds are transferred in real-time.
For consumers, Azupay is the closest alternative to real cash, as their payments are settled instantly. All that’s required to use Azupay is a bank account – no registration, no downloads and no sharing of personal or financial information is needed. For each transaction, Azupay provides a unique, single use PayID which carries all the information required for the consumer to make the payment instantly and germ free.