Australian ATMs on brink of extinction

Australia's ATMs may be heading for extinction, with the rise of more convenient payment methods pushing cash machine withdrawals to a five year low.

ATM withdrawals have been declining since 2012, according to finder.com.au analysis of Reserve Bank of Australia data, representing a drop of almost a fifth of cash withdrawals.

Australians are choosing to use new contactless payment methods, including `tap and go' and mobile payment instead of ATMs, which do not require pin codes for transactions under $100.