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Closed Cash Cycle Management There has been some industry talk of late about ‘closed cash cycle management’, an idea that sees banks and retailers reduce cash handling costs by eliminating the need to transport cash from central banks and cash centres. Cash remains the most preferred means of consumer payment Set against an ever increasing array of payment mechanisms ranging from paper checks to the latest mobile device based payment solutions, cash - banknotes and coin – remains the world’s most frequently used means of consumer payment.
Uniquely cash provides anonymity of use, requires no enabling technology or infrastructure to complete the transaction and does not require the user to have an established relationship with a financial institution or transaction provider. Given that half the world’s adults (2.5 billion people) are without access to formal financial services cash is often the only means of settlement available.
The ready availability of cash depends upon a complex supply chain The provision of currency is dependent on a highly complex supply chain both providing new and fit currency for withdrawal (the manufacturing supply chain), but also for the collection of deposits and surplus currency, in technical terms referred to as Reverse Supply Logistics. The cash cycle is in effect a Closed Loop Supply Chain on a vast scale.
Working with NCR Corporation the blond group recently prepared a White Paper to share some insights into the logistics that support the world’s most preferred payment mechanism. If you would like to receive a copy of the White Paper ’Inside the Cash Cycle’ please send your contact details by email to enquiries@theblondgroup.com. |
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