Volumatic is the UK’s leading manufacturer and designer of intelligent cash handling equipment. Customers in the retail, banking and leisure industries use Volumatic products to enhance security, reduce shrinkage and deliver effective processes. The range of products, including money counting scales, secure deposit devices, forgery detectors and end-to-end cash handling solutions, are used globally to count and protect over $4 billion per day.
New research published in May 2023 has confirmed that cash is not only alive and well but is gaining popularity across all demographics and age groups once more – and now both industry groups and consumers are fighting back to protect what is quite simply the most flexible and non-evasive payment method we currently have. The big takeaway from the research, conducted by independent financial experts Enryo, with input from LINK, the UK’s largest cash machine network, was that most people in the UK still use cash, so a ‘cashless society’ is way off. The study found that the vast majority of people in the UK (71%) have used cash in the past two weeks to pay for something and that a quarter of people (25%) do not anticipate that their use of cash will change anytime soon. The cost-of-living crisis has also prompted a resurgence in the use of cash with the majority of households across the UK now tightening their belts in order to save money and 1-in-10 UK consumers intending to use cash more frequently to help them budget more effectively for as long as this crisis continues.
Volumatic is led by a talented and dedicated management team. They have a deep understanding of their market and customer requirements. This is a highly innovative company with new and existing product development being a key driver for its growth. The funding from NVM will ensure that they continue to be at the forefront of developments in the sector, as well as allowing them to broaden their footprint and capabilityJames Arrowsmith , NVM