Beleaguered cash transit company Armaguard is getting a helping hand to ensure it can stay alive beyond a funding deal set to run out on June 30. Deloitte has reportedly been called in to develop a new pricing model for Armaguard, and could help recognise moving cash around the country as an essential service.

Armaguard was saved from financial ruin last year when industry stakeholders, including the Big Four banks, supermarkets, Bunnings, and Australia Post, pledged $50 million to keep it afloat. However, big questions have been raised about what will happen when that money agreement expires in a few weeks.

The Australian Financial Review reports that bringing the consultancy firm Deloitte on board will determine how much profit Armaguard should appropriately make and how much it needs to keep afloat.

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Essential services like healthcare, electricity, and disability support have their pricing models established by independent bodies.

This ensures they are fair, transparent, and sustainable.

By doing this for Armaguard, it could help set the company up for a long future where cash remains an essential part of society, even though people are using it far less than they used to.

Data from the Reserve Bank (RBA) showed cash made up 70 per cent of all in-person transactions back in 2007. That dropped to just 13 per cent by 2022.

Yahoo Finance has reached out to Deloitte for comment.

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Clock is ticking to ink a new Armaguard cash deal

But time is of the essence as another funding injection could have to be delivered by the large industry stakeholders.

Whether it's another year-long deal worth roughly $50 million like last time or a shorter term is yet to be revealed.

Since the deal was inked in the middle of 2024, Armaguard has been hacking at low-hanging fruit to cut costs.

One avenue was by simplifying the routes it takes to deliver physical money all over Australia.

A group keen to see a deal inked sooner rather than later is National Seniors Australia.

The group represents older Aussies who have largely lived their lives around cash and want to make sure it's not eliminated altogether.

"Cash is after all, a valid form of currency that many people, not only older Australians, prefer to use and rely on," National Seniors Australia CEO Chris Grice said.