The Future of Cash in a Cashless Society


A 1980’s documentary on the paperless office illustrated a seemingly unstoppable vision of the future; until a senior executive from Pitney Bowes was interviewed saying that demand for their document handling equipment had never been so high! Nearly forty years later we see that the use of documents and files have declined, but not nearly as much as predicted. The same is true for cash. It is likely that cash will be around for several generations. With a staggering €2.2 trillion of cash payments projected by 2020 for Western Europe alone, cash is clearly a part of our foreseeable future.

The inevitable rise of contactless payment and other e-payment solutions will most probably make technologies such as credit cards and cheques outdated and erode those first. It could well be that we see a two-tier system evolving, where we need cash for certain things, and electronic payment systems for others.

Another sign that cash is here to stay for some while is the increasing growth in ATM’s which are becoming more popular in areas like; petrol station forecourts, grocery retailers, leisure centres, train stations etc.

The upshot is that organisations whether public of private, large or small need to think on how they handle their cash, and move it securely from till point to counting centre. Many organisations around the world rely on Versapak’s secure cash bags for the safe storage and transport of cash. Be it a small hotel storing money overnight, a retail outlet moving money between cashier and cash office, or a large bank protecting its ATM cassettes, Versapak cash bags provide an ideal solution.

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