Sydney, 10 April 2012
Australians are embracing electronic payments citing convenience and safety as drivers of overseas ATM usage
Australians are the highest users of overseas ATMs in the Asia-Pacific region and they like the convenience and safety of accessing their funds from abroad rather than loading up on cash prior to departure, according to Visa’s second annual Cash Access Survey. Key findings from the survey show Australians prefer to avoid carrying cash when travelling, with over half (56 percent) of travelers using overseas ATMs to access cash as opposed to bringing money from home. Thirty-six percent of Australians cited they prefer using overseas ATMs for the convenience of being able to access their cash from anywhere, while 23 percent like the safety of not having to carry large sums of cash when abroad. Click to tweet: 56% of Australians choose to use ATMs to access cash when travelling. “With the continued strength of our Australian dollar and the cost of travel becoming more affordable, overseas travel has become more appealing and accessible to Australians,” said Vipin Kalra, Visa Country Manager, Australia. “People are enjoying the convenience and safety of not having to carry around large amounts of money when travelling and are choosing to use payment cards to access their own money while overseas.” Following Australians, New Zealanders (49 percent) show the strongest preference for using overseas ATMs to access cash while abroad. Those countries with the lowest use of ATMs to access cash abroad were Korea (23 percent), Singapore and Thailand (20 percent), Malaysia (18 percent), and Taiwan (17 percent). “Today we are seeing a growing trend of consumers using payment cards to access their own funds while travelling. Visa debit cards allow consumers to spend abroad much like they do at home accessing their own funds safely and conveniently with competitive exchange rates,” added Mr Kalra. The survey fieldwork was conducted from 18 July - 24 August, 2011 by Nielsen Online Panels with 3,073 online interviews. Target respondents included overseas travelers during the past 12 months departing from 10 APAC countries: Australia, New Zealand, Singapore, Malaysia, Thailand, Indonesia, Vietnam, Taiwan, South Korea and India. Visa’s tips for safe and convenient holiday cash access
Media ContactAndrew CraigVisaausinfo@visa.com
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.