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Cash Logistics Market:
WiseGuyReports.com adds “Global Cash Logistics Market: Forecast to 2024” reports to its database.
Cash Logistics refers to the physical transfer and also the handling of cash from one location to another. Cash Logistics services optimize and simplify cash supply and disposal. Cash Logistics services deal with sorting, wrapping, checking the quality of bills, and also helps in reducing operating cost. It handles project management as well. The transport of cash involves high-security measures and the same is taken care of by tracking them inside a control room, which has large LCD screens. The company personnel monitors every van.
Cash Logistics services involve the transportation of cash in different steps, at first, it receives money from mint then to RBI offices and Banks situated in different locations. The process of transfer is done under high security. The other steps involve the transfer of cash where private Cash Logistics companies are involved, like cash-in-transit, where a company rents out its secured vehicles along with drivers, handlers and security personnel, to banks. A typical cash van consists of an in-built vault, which is kept inside the protective covering, and the van can carry a few security personnel.
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Cash Logistics companies are generally private security companies that offer cash handling and transfer as part of their services. They are required to adhere to transport and security legislation. The industry is regulated by local, regional, and national legislation, social regulations, and current practices. Legislation and regulations may impose restrictions on possession or use of firearms, vehicle type, etc. The need for Cash Logistics services is growing owing to the increase in demand for circulation of cash. Cash Logistics company can exhibit huge growth by introducing a technologically advanced and highly secured transit vehicle.
By type the global Cash Logistics market can be segmented into – Cash in Transit and Cash Management. Cash in Transit is the physical movement of cash from one place to another. It includes the transfer of coins, credit cards, banknotes, and valuables. Cash management Solutions incorporates the processes, data, and individuals in the cash supply chain and also provides superior order tracking capabilities. Usually, Cash Management services are offered to larger businesses. At times, private banking customers are also provided with Cash Management services. By application the global Cash Logistics market can be segmented into – Financial Institutions, Retail, and others.
Under region, Europe and North America’s global Cash Logistics market will show a growing economy owing to its streamlined processes and operational efficiency. Europe and North America’s rising demand for Cash Logistics will drive the market further. South America’s global Cash Logistics market will grow immensely depending on the superior cash management capabilities. The global Cash Logistics market in the Middle East and Africa (MEA) will show huge market developments by improving its technology to handle cash transit. The global Cash Logistics market in Asia-Pacific (APAC) will witness extreme growth by providing the best solutions for business operations and outstanding customer support.
Company Analysis – Prosegur, Brink’s, Loomis, GardaWorld and G4S.
May 13, 2019. Cash Logistics and management firms have come under the Currency Cycle Association (CCA) for starting an online directory of all industry personnel to improve operational security and for maintaining compliance. Recently, all the firms have come along to start an online portal under CCA to provide details on the blacklisted employees.
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