News in Brief

Armaguard and Prosegur Agree to Merge in Australia

In Australia, Armaguard Group has reached agreement to merge Prosegur Australia into their business. The usual regulatory approvals will be needed from the Australian Competition and Consumer Commission. The merger will include cash in transit, technical services and ATM networks within Australia.

Armaguard say the combined businesses will safeguard reliable access to cash since there is currently excess capacity in the cash in transit and wholesale cash distribution businesses. Both businesses have been working with the Reserve Bank of Australia to reform the industry but Armaguard argues that declining cash volumes mean two major players cannot be sustained.

Central Bank Promotes Cash Use

Oesterreichische Nationalbank (OeNB) has posted on LinkedIn a short video giving five reasons why cash is good.