Future of cash secured for now as banks and retailers bail out Armaguard

By Steve Worthington, Adjunct Professor, Swinburne University of Technology

A deal reached between Armaguard, the banks, and Australia’s largest retailers securing the cash-in-transit service’s future, is good news, for now, for those Australians who still use cash.

The distribution of bank notes and coins throughout the country faced an uncertain future when an earlier attempt in April to bail out the troubled Armaguard collapsed.

But in weekend talks Armaguard’s main customers including the big four banks, Coles, Woolworths, Bunnings and Australia Post agreed to a $50…

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