Digital wallet transactions soaring: CBA

Digital wallet transactions soaring: CBA

Digital wallet use is soaring in Australia as the population bunkers down amid the coronavirus pandemic, one of the big four banks says.

The Commonwealth Bank has found digital wallet users spent $1 billion in March – a record number of transactions.

Digital wallet transactions, which include CBA Tap & Pay, Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay, increased by 17 per cent on February’s numbers.

The average spend per transaction, according to the analysis derived from Visa and Mastercard, was $28.

In total, 36 million digital wallet transactions were made in March, up from 33 million in February and higher than the previous monthly record of 34 million in December.

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Source: Digital wallet transactions soaring: CBA

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