Declining client fees threaten cash-in-transit industry
RESEARCH by a security expert has identified the dwindling prices charged to service clients as one of the biggest threats facing the cash-in-transit industry.Despite the cash in circulation more than doubling from 2007-2016‚ the service price has declined dramatically in the past 15 years, joint chief executive of Cash Connect Management Solutions Richard Phillips said on Wednesday at a cash-in-transit seminar at the Institute for Security Studies."The greatest single threat is the persistent assault on service pricing of the industry."Fifteen years ago it cost between R130 and R170 per service to transport money by an armoured truck, but in 2016 the figure has dropped to between R90 and R107 per delivery‚ while inflation has risen by 87% over the last 10 years‚" Phillips said.ISS senior researcher Dr Johan Burger said this could be the reason for the 39% increase in cash-in-transit heists in 2015.Phillips said the amount of cash in circulation in SA had increased to R130bn in 2016...
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