Overview

Name: Varun Chandra Shekar

StudentID: s4017549

Overview:

Trends Tab:

The first line graph titled “From Cash to Digital: The Journey of Payment Methods” illustrates the transition from traditional cash transactions to various digital payment methods, including BPAY, credit, debit, and others (e.g., internet banking, gift cards, cheques). Over the years, there has been a notable increase in digital payments, with a corresponding decline in cash usage.[1]
The second line graph titled “The Generational Divide: Tracking Payment Method Trends by Age Group” shows the trends by age group highlights how different demographics have adapted to these changes. Younger age groups, particularly those aged 18-29, show a higher adoption rate of digital payments compared to older demographics.[1]
The stacked bar chart titled “Shifting Preferences: Payment Methods by Category Over Time” shows the payment preferences across different sectors such as bills, food retail, holidays, supermarkets, and transport.[1]

Impacts Tab:

The line graph shows the trend of COVID-19 cases, highlighting significant peaks that coincide with increased digital transaction adoption and decrease in usage of physical infrastructures of Banks and ATMs.[2]
The decline in ATM and bank branch closures across Australian states (ACT, NSW, NT, QLD, SA, TAS, VIC, WA) is visualized, reflecting the reduced dependency on physical banking infrastructure as digital transactions become more prevalent.[3]

References

[1] Reserve Bank of Australia. (2024). Consumer Payments Explorer. Reserve Bank of Australia. https://www.rba.gov.au/payments-and-infrastructure/consumer-payments-explorer/

[2] World Health Organization. (2024). COVID-19 Dashboard. World Health Organization. https://data.who.int/dashboards/covid19/data?n=c&m49=036

[3] Australian Prudential Regulation Authority. (2024). Authorised Deposit-taking Institutions Points of Presence Statistics. Australian Prudential Regulation Authority. https://www.apra.gov.au/authorised-deposit-taking-institutions-points-of-presence-statistics

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Trends