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Australia proposes new measures to maintain cash access in rural areas amid transporter financial struggles.
The Australian Competition and Consumer Commission (ACCC) is proposing new measures to ensure continued cash access in regional and remote areas, where physical money remains vital.
Armaguard, the main cash transporter, is facing financial strain after its $50 million industry bailout expired.
The ACCC is authorizing the Australian Banking Association and other stakeholders to collaborate on solutions, as declining bank branches, poor digital connectivity, and low digital literacy leave many rural residents reliant on cash—used in over 80% of transactions by high-cash users.
Cash is essential for community events, small businesses, and vulnerable populations.
Public comments on the proposal are due by November 14.
Australia propone nuevas medidas para mantener el acceso a efectivo en las zonas rurales en medio de las dificultades financieras de los transportistas.