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European Cash Processing Needs a Makeover

Categories : Cash is trust
April 12, 2016
Published in : Efficiency, Europe, Universality, Usage, Widespread
To remain a cost-effective payment tool, the cash cycle requires fundamental reform.
Communication Team

In Europe, the use of cash and coins is still growing, according to a G4S report – a consistent trend since 2002. In fact, circulation volumes have maintained a 13% per annum increase resulting in cash making up 60% of all transactions.

There is more recent shift in the trend, however. In eight European countries, electronic payments have surpassed the use of cash, including in the UK, the Netherlands, Sweden and France.

“The cash supply chain is highly fragmented across Europe which creates chronic inefficiency,” according to G4S regional CEO, Graham Levinsohn. In fact, in order to maintain its comparative advantage, the cash cycle requires greater cooperation between all actors to reduce these obstacles and to allow greater fluidity during transactions between stakeholders.

To read the original article, please click here

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