Aussie shoppers and businesses have been all but guaranteed that they will be able to continue using cash in the future even as the payment method loses popularity.

The Australian Competition and Consumer Commission on Friday revealed a proposal to ensure the nation’s leading banking association can develop ways that guarantee cash is distributed across Australia.

The consumer watchdog also wants the Australian Banking Association (ABA) and other industry figures to ensure cash transport occurs if Armaguard – the main distributor of cash in Australia – collapses.

Cash-in-transit companies such as Armaguard service the needs of Australian banks, retailers, hospitality venues and assist with ATMs.

The ACCC’s deputy chair Mick Keogh said this proposal was crucial to ensuring cash was stil

See Full Page