Quick coffee? Digital wallets make light work of Aussie payments

When was the last time you paid cash for your morning coffee? 

Aussies are increasingly choosing the convenience of digital wallets and businesses are well aware - coffee with cash is fairly outdated!

In fact, new research shows that 45% of Australian businesses see a need to upgrade their current payments systems. The report from University of Sydney Business School further shows that digital payments are beneficial for businesses as they boost their competitiveness and give them a chance to expand internationally. 

But does your digital wallet fit the bill?

With the world changing its payment preferences, here are a few things you should consider: 

  • Make sure the tech meets your needs: Perhaps you move your money around quite a lot or need to make international transfers. Or maybe you love the ease of tap & pay. This is where the right digital wallet can be a huge help.  
  • Do your research: Before signing up, check what’s on offer and how easy the wallet is to use. There are a number of options!
  • Make use of what’s available: Embrace the new tools, they may cut down on time and in most cases the security around them is cutting edge.  

Let’s look at a few examples. Here are some bank accounts and the digital payment options they offer: 

  • Ubank’s Spend Account offers quite a few payment options like Apple Pay, Google Wallet, PayID, Samsung Pay, Fitbit Pay, and Garmin Pay. (It comes with zero account fee and even has zero foreign transaction and ATM withdrawal fees). 
  • AMP’s Cash Manager offers Apple Pay, Google Wallet and Samsung Pay. (It has no account fee and an interest rate of 0.60% p.a.). 
  • Suncorp’s Everyday Options offers Apple Pay, Google Wallet and PayID. (It has no account fee and an interest rate of 0.01% p.a).
  • MyState Bank’s Glide Account offers Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit Pay and Garmin. (No account fees). 
  • CommBank’s Smart Access offers Apple Pay, Google Wallet, PayID, Samsung Pay, Sarmin and Fitbit. (It charges an account fee of $4). 

Always be sure to do your research when choosing a bank account. As you can see some offer a greater variety of digital wallets than others. You can start comparing some of the top bank accounts below. 

Compare top bank accounts: 

Bank account comparisons on Mozo - last updated 24 February 2024

Search promoted bank accounts below or do a full Mozo database search. Advertiser disclosure
  • Orange Everyday

    $0.00

    Apple Pay, Google Wallet, PayID, PayTo

    0% p.a.

    The everyday bank account that could pay you for paying bills. Get 1% cashback on eligible utility bills (up to $100), $0 ING international transaction fees, and up to 5 rebated ATM withdrawals a month here or overseas (T&Cs apply)+ no monthly fees. Winner of the Mozo Experts Choice Awards 2023 for Exceptional Everyday Account.^

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  • AMP Cash Manager

    $0.00

    Apple Pay, Google Wallet, Samsung Pay

    0.60% p.a.

    Earn up to 4.80% p.a variable rate with AMP Cash Manager on balances from $10,001 to $250,000. Manage and access your funds while earning interest. No transaction fees to pay. Visa debit card, eftpos, and BPAY facilities. Digital wallet payments with Apple Pay, Samsung Pay or Google Pay.

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  • Spend Account

    $0.00

    Apple Pay, Google Wallet, PayID, Samsung Pay, Fitbit Pay, Garmin Pay

    0% p.a.

    No monthly fees and no charges for overseas or online payments from ubank. Stay one step ahead with ubank’s spending insights and bill prediction. Apple Pay and Google Pay compatible. Deposits guaranteed up to $250K per customer.

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  • Mozo Expert Choice Badge
    Everyday Options

    $0.00

    Apple Pay, Google Wallet, PayID

    0.01% p.a.

    An easy, everyday banking account packed with flexible options to help you spend, budget & save better. $0 monthly account keeping fees & option to add up to 9 sub-accounts.

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  • Wisdom Saver Account

    $0.00

    Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit, Garmin

    0.05% p.a.

    IMB’s Wisdom Saver Account is a high interest transaction account available to members 55 years or over, or members who receive an eligible permanent pension. Enjoy unlimited fee free IMB transactions (T&Cs apply). Great interest rates and at-call access to your money. No monthly account keeping fees. Access to real time payments through Osko. Free Internet, Mobile, and Phone Banking.

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  • Everyday Global Account

    $0.00

    Apple Pay, Google Wallet

    0% p.a.

    No overseas ATM fees & up to 10 currencies in one account. Switch between currencies instantly 24/7 wherever you are using the mobile app. Receive 2% Cashback on eligible tap and pay transactions under $100. Mozo's Experts Choice 2023 winner for Exceptional Everyday Account.^

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