Insights - Brink's Cyprus

The demand for cash remains resilient today. Many people find this fact surprising, especially in the face of increased competition with alternative payment methods such as credit cards, debit cards, and electronic payment apps such as Venmo and PayPal. However, the 2019 Diary of Consumer Payment Choice conducted by the Federal Reserve highlights the way in which cash is still used, and even preferred, by a wide-range of individuals across various age and household incomes.

No matter what government department you work for, your organisation most likely accepts cash as a form of payment. From collecting taxes and parking ticket fees to utility bills and more, government offices receive a surprising amount of cash each year.

With universities ranging anywhere from 1000 to 50,000+ students, it’s no surprise that college campuses are prime property for special events.

Retailers are always looking for new ways to streamline operations without increasing costs or sacrificing security. However, many businesses still manually handle their cash and are all too familiar with the challenges and risks that come along with the traditional cash management process.

Despite the growing popularity of mobile payments, cash is still being heavily used by consumers across the country. With this, many people are still using cash to pay for government fees such as taxes, parking tickets, court fees, and more. This use of cash creates a need to effectively manage cash intake for efficient daily operations in government facilities.