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Australian banks, supermarkets may collaborate on cash-in-transit services, regulator says

( September 12, 2024, 06:17 GMT | Official Statement) -- MLex Summary: The Australian Banking Association, representing the country’s lenders, has been granted authorization by the antitrust watchdog to continue its collaboration with its members, as well as with Australia Post, retailers, supermarkets and other industry participants to “ensure there is continuity of cash-in-transit services.” In a statement, the Australian Competition & Consumer Commission said that its decision allows the affected parties to “collaborate and prepare for any suspension or disruption of cash-in-transit services.” The move follows the regulator’s controversial decision to authorize the establishment of a virtual monopoly of cash-delivery services when Linfox Armaguard acquired Prosegur Australia in June 2023.The Australian Competition & Consumer Commission's full determination is attached; the full statement follows: ...

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