News

New Zealanders are giving up the green

May 9, 2005

The National Business Review: New Zealand consumers are well on their way to making cashless transactions, according to a KPMG, a professional service firm, study that found electronic transactions are booming. According to KPMG's 19th annual Financial Institutions Performance Survey, there was a 10.6 percent increase in the number of EFT POS transactions in 2004, following a 14.9 percent increase in 2003.

When New Zealanders want cash, however, they return to the ATM, KPMG found, noting that the number of ATM terminals grew to just more 2,000 in 2004.