Brinks’ Digital Vision to Disrupt the Cash Management Industry

Last December Brinks disclosed its three year strategic plan and 2024 financial targets, with a major focus on new digital cash payment solutions.

According to CEO Doug Pertz, ‘Brink’s is evolving from a route-based logistics company with growing organic revenue and expanding margins into a key player in the broader payments ecosystem - with a focus on digital cash payment solutions. Our vision is to disrupt the cash management industry by offering a step change in value to a large addressable market of retailers that are currently underserved, or not served at all, by our industry.’ ‘While cash usage accounts for approximately two-thirds of global consumer transactions, it’s clear that the payments ecosystem is changing, and we’re changing with it’, he continued.

The financial targets for 2024 include annual organic revenue growth of 7% and adjusted operating profit (EBITDA) of $1 billion. The company proposes to achieve these targets by executing two strategies.

The first is operational excellence, and is a continuation and expansion of the organic initiatives that made the company’s first three year strategic plan so successful, including revenue growth of 27% and operating profit growth of 81% from 2017 to 2019.

The second is adding a new layer of high-margin growth by introducing digital cash payment solutions that enable retailers to process cash as easily as they process cards and other digital payments.

Whilst most retailers already have a digital solution to accept cards and other payments, Brinks’ intention is to provide a digital solution to manage cash payments. It believes that this, as well as growing its ATM managed services business, will give the company a sustainable, first mover competitive advantage. It expects these solutions to add an incremental 10% of total revenue by 2024.

As part of its go-to-market strategy, the company has launched BLUbeem™ by Brink’s®, a new brand for its digital cash payment solutions. Through partnerships with digital payment providers, BLUbeem digital cash payment solutions will be integrated with non-cash digital solutions and point-of-sale (POS) systems to provide a single solution for cash, card and digital payments.