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.

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.

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 cash continuing to be a preferred payment method for consumers of all ages, cash-handling technology is constantly evolving for the future. As a result, both retailers and banks are always looking to invest in new services and devices to meet the needs of their customers more efficiently.