As internet banking and tap-and-go cards become ubiquitous, Australians are beginning to reject businesses that operate on a cash only basis.

New research claims that a quarter of Australians now refuse to use cash-only businesses, while more than half say they find cash-only premises hard to deal with. Previously, processing transactions by card was much slower than paying with cash, but the advent of tap-and-go cards has apparently driven the shift.

A customer pays by Visa payWave. Contactless payment systems have become popular in an increasingly cashless society.

The research says on average an Australian would save up to 3 hours and 54 minutes of transaction time every month by using tap-and-go compared to inserting a card and entering a PIN.

The research was conducted by Edelman Berland from a sample of more than 1000 consumers. It was commissioned by PayPal, which has just announced the availability in Australia of its new device that lets vendors in shops or at market stalls accept payments from tap-and-go credit cards or smartphones.