Cash cycle efficiency

The European Payments Council (EPC) Cash Efficiency Working Group (CEWG) has published some observations on trends and drivers for cash usage and related challenges for the cash cycle. The CEWG is responsible for formulating proposals for increasing the efficiency of cash handling and making recommendations for best practices to be shared within the entire SEPA community.

Nina Wenning, the CEO of Bankomat, the Swedish bank-owned ATM operator calls for the central bank to incentivise retailers to accept cash by subsidising the cash cycle.

Reductions in the ability of people to access cash and the increasing cost to business of using cash is likely to increase the risk of financial exclusion for sections of society dependent on cash if not managed. Maintaining access to cash should be part of any aid organisation’s fiduciary risk approach to cash assistance. Cash coordination groups currently active around the world should therefore work with their respective central and commercial bank partners to better understand the political economy of cash as used by their collective beneficiaries.

The crisis is forcing many businesses to reinvent themselves. It is also spurring innovation in the cash cycle, as banks, retailers and other stakeholders are designing new ways to distribute and handle cash.

Cash and Crises, a series of financial literacy video series by CashEssentials releases its fifth episode with a social mission to support the relief and development community in understanding how cash is managed for society in times of crisis.

Visa will pay shops to offer cashback in rural locations in the United Kingdom.

The European Cash Management sector sees further consolidation as Loomis has entered into an agreement to acquire Nokas Värdehantering, a Swedish subsidiary of Norway’s Nokas Kontandhåntering.

GLORY has entered into a share purchase agreement to acquire 53% of shares in Cash Payment Solutions GmbH, which develops and provides online cash settlement platforms under the brands ‘Barzahlen’ and ‘viacash’.

France is following the lead set by monetary authorities and lawmakers in countries such as Sweden, the UK and the US to ensure the long term viability of the cash cycle.

De La Rue and Hydro Industries Ltd developed a technical solution for De La Rue’s Gateshead plant to minimise the environmental impact of banknote printing by eliminating waste and conserving clean water.

The Dutch National Bank (DNB) published its strategy for the next three years and it includes an improved cash cycle, payment structure innovation and overall system improvements.

The Federal Reserve Banks will adopt global standards for supply chain logistics and package tracking to ensure that depository institutions have sufficient supplies of currency and coin to meet public demand.