Consolidation on the cards as cash no longer king

Armourguard Security and ACM will merge their cash-in-transit operations into Armourguard Logistics, a wholly owned subsidiary of Evergreen NZ Holdings. (Image: Evergreen)

Rebecca Howard

Thu, 28 Mar 2024

Consolidation looks to be on the cards for cash-in-transit operations as fewer people use cash. Cash use has steadily declined over the past two decades, leading to significant excess capacity within the cash logistics services infrastructure. According to the central bank, about 6% of the population rely on cash, although this data will be updated shortly based on its latest survey. In 2020, about 70% of the population indicated in 2020 that cash is one way they use to pay for everyday things, compared to 96% in 2019 and 2017.A...

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