Insights - Brink's US

Discover an innovative approach to HR and payroll to help your company navigate through these challenging times. From earned wage access and mobile alerting, to digital banking tools and prepaid debit cards that pay you back as you use them, explore the frictionless strategies you can implement right now to empower your employees and ultimately ensure your business returns to normal operations.

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.

Despite the growing popularity of mobile payments, cash is still being heavily used by consumers across the country. With this, many people are still using cash to pay for government fees such as taxes, parking tickets, court fees, and more. This use of cash creates a need to effectively manage cash intake for efficient daily operations in government facilities.

Whether you work for the local or federal government, your organization 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.

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.

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.

With universities ranging anywhere from 1,000 to 50,000+ students, it’s no surprise that college campuses are prime real estate for special events.

Amid the COVID-19 pandemic, cashless stores and restaurants are becoming more popular. And that’s not necessarily a good thing: some retailers who experimented briefly with cashless operations have reversed their decisions ¬as a result of complaints from consumers, or as local and state governments enact laws to protect those without bank accounts.