So what do Volumatic know about cash? Have a look at the following facts:
Cash vs Plastic
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"Reports of the demise of cash are greatly exaggerated. Despite the impression created by some banks, it is the most popular means of payment and the most cost effective for retailers"
BRC Director General March 2009 |
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"An average cash transaction costs retailers 2 pence; a debit card payment costs 8 pence, but they are charged a massive 35 pence when a customer uses a credit card"
BRC March 2009 |
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"Cash is now used in 56% of all transactions and accounts for 33% of all retail spend"
BRC March 2009 |
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"If payment charges for every payment method were as low as they are for cash, over £800million in cost savings would be passed on to customers through lower shop prices"
BRC March 2009 |
» Find out more about the future of cash handling here.
Cash in Circulation
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"There are currently 48.5 billion banknotes in circulation in the UK"
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"The Bank Of England destroyed £11.5billion in used notes in 2008/9"
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"The UK Cash in Transit industry transports over £1.4 billion every day"
Professional Security Magazine |
» Find out more about handling cash at point-of-sale (POS) here.
Forgeries
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"95% of forgeries are £20 notes"
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"The total value of forged notes seized in the UK in 2008 was almost £14million, up from £5.8million in 2007"
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» Find out more about forgeries from the Bank of England educational material.
» Find out more about Volumatic forgery detection devices.
Related links:
» View the Bank of England testing framework page featuring CCi.
» View the ECB test results page featuring CCi and TruScan.
» Try the Bank of England training course on forgery detection.
» View information on notes and forgery detection from Scottish clearing banks.
