The Australian Competition and Consumer Commission has granted interim authorisation for the Australian Banking Association, banks, and retailers to financially support Armaguard, a cash-in-transit business.

ANZ Group (ASX:ANZ), Commonwealth Bank of Australia (ASX:CBA), National Australia Bank (ASX:NAB), Westpac (ASX:WBC), Australia Post, Coles (ASX:COL), Wesfarmers (ASX:WES), and Woolworths (ASX:WOW) will provide support for up to 12 months.

The support is part of broader conduct seeking authorisation, including operational efficiency measures and an independent pricing mechanism for cash services agreements with Armaguard.

The ACCC invites feedback on the measures by July 24.