The cash industry in the U.S. has long been a difficult market for U.S.-based merchants to operate in – from often limited regional coverage, managing multiple supplier relationships, and navigating an estate spread over 3.7 million square miles – merchants often struggle to get their cash arrangements right. Add into the mix the recent announcement from Brink’s of its intention to acquire competitor, Dunbar, and now is a tumultuous time for cash-focused payment professionals in the merchant industry.
CMSPI, an independent payments consultancy based in Atlanta, Georgia, hopes to combat some of the uncertainty surrounding this recent acquisition announcement, as well as give merchants guidance surrounding other cash management complexities. The event will bring together merchants, key cash supply chain stakeholders, and industry experts into one room – with special guest panelists from Starbucks, Gap and AutoZone.
Elley Frost, CMSPI President and speaker at the event, explained, “Cash arrangements in the merchant community are extremely complex and it’s time the industry started talking about these issues more. We’re launching the Merchant Cash Management Forum to help guide merchants through industry complexity, bring transparency, and ensure cash remains an integral part of the payments conversation.”
Taking place in Denver, Colorado on September 11, 2018, this half day event will tackle key issues for merchants including: how the supply chain balances cost, service levels and innovation; how merchants can optimize and reduce costs throughout their cash arrangements; switching providers and the key to getting it right; and the future of the cash industry. CMSPI experts will be joined by representatives from smart safe providers, armored transport suppliers, banking partners, cash processors, the merchant community, and other industry professionals as they discuss the issues that matter most to merchants.
While it’s true that cash volumes are slowly falling in many countries around the world, the hysteria surrounding the “death of cash” is an overplayed narrative that is more hype than actual substance. Cash arrangements are often swept under the rug, despite the fact that cash volumes remain high in the U.S. and cash continues to be a widely-used, and valued, form of consumer payment. With the uncertainty surrounding the Brink’s-Dunbar acquisition announcement, rising interest rates, increasing labor costs, and reduced banking options, this event is a timely addition to the payments event calendar.