Report

2022 State of consumer money movement 

What happens when the new normal becomes plain old normal

In partnership with Propeller Insights, Marqeta conducted a survey of over 4,000 consumers across three continents, including more than 1,000 in Australia, to get a sense of current purchase preferences and how consumers want to pay, bank, and shop. The survey shows how Australians lead the way in digital payment use worldwide. 

  • 83% of Australians surveyed said they’d used a mobile wallet in the last 12 months 
  • 69% of Australians surveyed said they felt comfortable enough using a mobile wallet to leave their physical wallet at home. 
  • 67% of Australians surveyed said they could imagine a future where they never used cash.

Australia is at the forefront of the digital change in payments

According to the survey, Australian consumers were significantly more likely to use mobile wallets, cryptocurrency and other digital payment options compared to consumers in the US and UK. Australia has been investing in contactless payments since well before the pandemic, and it’s a global leader in accelerating digital change post-pandemic. 

High digital banking adoption reduces desire for physical banking experiences

The report details how Australians prefer their mobile apps over in-person banking. While 84% percent of Australians surveyed said that they bank with a major financial institution with a physical branch network, they were six times more likely to say they regularly used their bank app. 

Consumer purchase preferences continue to evolve in the post-pandemic normal

Beyond the point of sale, consumer preferences are evolving rapidly as people adjust to a post-pandemic normal that blends old and new purchase behaviors. This report outlines the new modes of payment that are defining the future of global consumer money movement. 

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