will begin to slash the number of ATMs it has available in stores in the latest move towards a cashless society.
The convenience giant has 752 stores across New South Wales, Victoria, the Australian Capital Territory, Queensland and Western Australia.
A spokesperson confirmed with 9news.com.au the change was in response to a shift in consumer behaviour.
“As our offer evolves, some ranges and services are removed to provide room for new and high-demand offers,” a spokesperson for 7-Eleven said.
“We are reducing our ATM footprint to respond to changing customer needs, although some stores will continue to provide ATM facilities.”
It is unclear how many 7-Eleven stores will continue to provide ATMs or cash withdrawal facilities.
In recent years the retailer has been trialling cash-free stores in Melbourne and Brisbane.
The concept prioritises mobile checkout, with customers paying for their goods via a smartphone app.
Australia’s transition to a cashless society is expected to happen by the end of the decade
as consumers switch to digital wallets and buy-now-pay-later (BNPL) services.
According to a report by the Australian Banking Association, at the end of 2022, cash only accounted for 13 per cent of consumer payments in Australia.
In 2007, that figure was 70 per cent.
Finance expert Dr Angel Zhong estimates Australia will enter into a cashless society by 2030 although that doesn’t mean cash will disappear entirely.
“The meaning of cashless society is more about the way that we transact… it adds to the convenience of our day-to-day lives,” she said.
“There is always a place for cash but the majority will be making payments with digital wallets.”
Extracted in full from: https://www.9news.com.au/national/australian-news-7eleven-stores-to-phase-out-atms-in-move-to-go-cashless/0b10af5f-27b3-45fd-8a74-2a3f2e7e3d1f