Prosegur’s Management and control of cash in circulation. branch, Prosegur Money in physical form such as banknotes and coins., believes that cash continues to play a key role thanks to its unique attributes. Scheduled to go public this semester, Prosegur Cash’s activities recorded a 4% increase in 2016 compared to the previous year – a clear indicator that cash usage is still growing.
Indeed, 85% of global transactions are still carried out in cash, states Luis Oro, Innovation and Productivity Director of Prosegur Cash. Oro believes that, despite the multiplication of A transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. methods these past few years, there is still no acceptable substitute to cash as the barriers that are eliminated to run other payments only result in greater vulnerability of the final user – the consumer.
Cash is universal, states Oro, as it is accessible even to 38% of the world’s population that is unbanked (World Bank). Also, cash generates confidence – a clear indicator as to why it remains the most popular Device, tool, procedure or system used to make a transaction or settle a debt. between individuals. And finally, cash provides a level of anonymity that no other See Payment instrument. currently offers. This positive attribute is often used by cash’s most fervent critics, suggesting that cash is the variable in the grey economy equation that must be eradicated. Yet, Oro concludes, the greatest corruption cases never occurred in cash: what must be fought is the source of the problem – fraud – and not the wrongly accused tool – cash.
To read the original article [in Spanish], please click here.