The Cashless Society Quiz (Week 8)

According to the Reserve Bank of Australia, what percentage of all payments made in 2022 were in cash?

• 30%

• 13%

• 5%

• 20%

What is one of the concerns mentioned in the text about going completely cashless?

• Reducing crime

• More specific targeted ads

• Creating spending profile

• Susceptible to hackers

What caused havoc for millions of customers and businesses around the country as mentioned in the text?

• All of the above

• EFTPOS machines lost connection

• Customers couldn't access their banking

• Businesses lost 80% of customers since they could only taj

What did the CBA CEO mention about the future of cash distribution?

• No plans to remove cash distribution

• All banks will remove cash distribution

• Phasing out cash and cheques in 2024

• Feasible and desirable to remove cash distribution

Select the benefits of ditching physical dollars mentioned in the text?

• Conversion and tracking of money

• Reducing crime such as tax evasion

• Creating spending profile

• More specific targeted ads