Credit and debit cards have overtaken cash as the most frequently used consumer payment for the first time, as food retailers and ridesharing apps such as Uber offer more cashless payment options.

Cards were the most frequently used means of payment, accounting 52 per cent of consumer payments, followed by cash at 37 per cent, according to the Reserve Bank's consumer payments survey released on Tuesday, which surveyed 17,000 day-to-day payments made by over 1500 participants during a week.