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Israel: Cash – The Point of No Return

Amir Safranovich, Head of Cash Management in the Currency Department at the Bank of Israel (BOI) introduced his presentation at the European Cash Cycle Seminar with the title ‘Cash: The Point of No Return’.

Studies-Reports - December 30, 2021 midnight

HSP Awards Celebrate Best in Class of 2021

In the absence in 2021 of the HSP Awards, which are normally held three times a year to coincide with the three regional conferences, HSP organiser Reconnaissance International held a series of virtual awards instead.

Events - December 30, 2021 midnight

Japan’s Paradox of Banknotes

While cash transactions in Japan have been declining for some time, the reduction in opportunities to pay in cash and the increased use of ‘stay at home consumption’ during the pandemic has accelerated this decline. At the same time the ratio of banknotes to GDP has risen very significantly.

Studies-Reports - December 23, 2021 midnight

Cape Verde Goes Clean and Green with New Disposal System

As part of our regular update on technologies and programmes for sustainability in the cash cycle, we report this month on the news that Banco de Cabo Verde has invested in an HKU 4510 from Swiss company Hunkeler Systeme for the secure, clean and energy efficient disposal of banknotes.

Sustainability - December 23, 2021 midnight

People in the News

Bert van Ravenswaaij, the Royal Dutch Mint’s CFO, has been appointed Mint Master, and will take up the position at the beginning of January. He has been at the Royal Dutch Mint since 2017 and is responsible, among other things, for all issues for the collector's market, including commemorative coins and medals.

News - December 23, 2021 midnight

2021: A Groundhog Year

2021 ended much as it began – disruptions, restrictions, new lockdowns, a virus on the march. However, the two trends where momentum is gathering and real change is beginning to happen are in access to cash and the green revolution.

Comment - December 23, 2021 midnight

In Celebration of the XXIV Winter Olympics

The Peoples Bank of China has issued a set of 20 yuan commemorative banknotes for the Beijing 2022 Olympic Winter Games. The set, which includes a polymer note and a paper note, have been produced by China Banknote Printing and Minting Corporation.

Banknotes - December 23, 2021 midnight

Designing for CINEMA™ – A New Dimension in Banknote Security

CINEMA™ is a ground-breaking security feature for banknotes, launched in 2020 by CCL Secure. The feature uses advanced micro-optics to create 3D and novel effects such as movement, depth, float, flip effects, and magnification – all in normal lighting, without the need for UV or other special lighting techniques.

Features - December 23, 2021 midnight

Cash Access in a Less-Cash World

In the November issue of Currency News™, we covered initiatives in Australia and the Netherlands to assess the growing trend to digital payments and what these countries are doing, or beginning to think about doing, to ensure ongoing access to cash in a less-cash world.

Cash Handling - December 23, 2021 midnight

Philippines Polymer Trial Takes Shape

More details have emerged about the polymer trial in the Philippines. Delivery of the first batch will be next April. 500 million pieces of 1,000 piso polymer banknotes will be rolled out by the middle of 2022, and the pilot will last for three years.

Substrates - December 23, 2021 midnight

In Other News…

HM Government of Gibraltar has issued a new £5 note, replacing the previous, larger version. The new £5 was reduced in size to match the UK polymer £5 (albeit it remains on paper) and the colour changed to a vivid green.

News - December 23, 2021 midnight

News in Brief

The Bank of Israel (BOI) held a special ceremony attended by the country’s president to launch a new NIS 5 coin in appreciation of the Israeli health and medical system for their contribution and struggle for the lives and health of Israel’s citizens during the COVID-19 pandemic.

News - December 23, 2021 midnight

Bank of Canada Survival Analysis of Banknote Circulation

The Bank of Canada (BOC) has a Currency Inventory Management Strategy (IMS) based on its high-speed sorters that capture the image of every banknote, including the serial number, along with the date the banknote was created, shipped from the central bank’s distribution sites and returned to them.

Studies-Reports - December 23, 2021 midnight

Innovations from KURZ in Digitalisation and Threads

The emphasis on the recent round of IACA’s Excellence in Currency Awards, which were presented in October, was on innovations in response to the pandemic that will have lasting value. One such innovation was from KURZ in the form of its ‘Digital Design and Origination Approval Process’.

Technology - December 23, 2021 midnight

New Report Explores Printing Beyond Colour

Many technologies and features with their roots in commercial printing have made, and continue to make, a substantial contribution to secure document production. However, these technologies have for the most part been concerned with producing visual colours, perceived by the unaided eye as conventional colour printing.

Studies-Reports - December 23, 2021 midnight

Good Results Fail to Impress the Markets

While the companies we feature in Industry Watch are being directly affected by COVID-19 trends and issues, they are also subject to market trends. COVID-19 has disrupted global economic stability – raw materials, energy and labour are all in short supply, and inflation is on the rise.

Companies - December 21, 2021 midnight

Two More New Wins for CPS

Hard on the heels of the announcement of a multi-million pound contract to supply Single Note Inspection Systems to India, Cash Processing Solutions (CPS) has announced two further major new contracts.

Companies - December 1, 2021 midnight

G+D Wins CBDC Award, Takes on Banknote Collection

The Monetary Authority of Singapore (MAS) has announced Giesecke+Devrient (G+D) as one of the three winners of its Global CBDC Challenge, concluding the first phase of MAS’ study to explore possible retail CBDC solutions.

Digital CN - December 1, 2021 midnight

New 50 Pesos Completes Mexico’s G Series

The Bank of Mexico has issued a new 50 pesos, the sixth and final note in its new G series. The front of the new note shows the foundation of Tenochtitlan, the capital of the Aztec empire which, according to legend, was established by the Mexica tribe in the place where they found an eagle devouring a snake.

Banknotes - December 1, 2021 midnight

New Facility Doubles BEP Budget for 2022

The Bureau of Engraving and Printing (BEP) has submitted its fiscal year 2022 budget request to Congress. The main component of the $1.9 billion requested funds is for special projects. Chief among them is $897 million for the Replacement Production Facility in Beltsville, Maryland.

Banknotes - December 1, 2021 midnight

A Strong 1st Half and Good Outlook for De La Rue

Sales for De La Rue for the first half of 2021/22 increased by 0.9% to £179.2 million, compared with the first half of 2020/21, according to its recently published interim results. Adjusted operating profit increased by 13.4% to £17.4 million.

Companies - December 1, 2021 midnight

In Other News…

The National Bank of Romania has issued a new 20 lei banknote. It is intended to fill the gap between the 10 and 50 lei notes, and to honour a woman for the first time on a circulating note – Ecaterina Teodoroiu, a heroine of World War I.

News - December 1, 2021 midnight

News in Brief

The value of cash in circulation (CIC) in Uganda grew by 5.6% in 2020/21 to 6.03 trillion Ugandan shillings. Of this, banknotes grew by 6% to 5.83 trillion shillings, and coins by 2.65% to 193 billion shillings.

News - December 1, 2021 midnight

Inovinks’ New IR Pigments – More than a Mirage

Infrared (IR) is part of the electromagnetic spectrum that lies immediately beyond red light and is therefore invisible to the naked eye. Because of this, IR inks are widely used in the banknote industry to create covert features that are both highly secure and machine readable, particularly by high speed systems.

Technology - December 1, 2021 midnight

Central Bank of Nigeria Reports on Cash for 2020

The Central Bank of Nigeria (CBN) has made progress in 2020 with introducing and updating new systems to help with its cash management, according to its recently published annual report on cash operations.

Central Banks - December 1, 2021 midnight

The Role of Cash in a Digital World

The digital world has been with us for over 20 years, and it has brought significant benefits, usually related to convenience, choice and cost. Despite that, there are many examples of physical products that are recovering lost ground and increasing sales.

Free - December 1, 2021 midnight

Future of Banknote Distribution in Australia

There is no longer any doubt that cash as a means of payment is declining – not just in relative but, increasingly, in absolute terms. The recent high demand for banknotes as a store of value only masks the reduction in their use for transactions.

Banknotes - December 1, 2021 midnight

Eye-Catching, Distinctive and Secure

At the latest count a third of all banknotes contain a diffractive feature, in the form of a patch, stripe or thread, 327 to be precise. According to Frank van der Horst of the DNB in his presentation at the recently-concluded Holography Conference, the feature is the second best in public recognition terms after watermarks – which makes one wonder why the other two thirds of banknotes don’t use one!

Features - December 1, 2021 midnight

International Awards for 3 New Banknote Holograms

Banknote holograms were winners in three of the five categories in the Excellence in Holography Awards 2021 organised by the industry trade body, the International Hologram Manufacturers Association (IHMA).

Events - November 23, 2021 midnight

EMEA Cash Cycle Seminar (ICCOS) 2022 Heads to Istanbul

The EMEA Cash Cycle Seminar (ICCOS) was again held in a virtual format at the start of November. Despite this, the event attracted nearly 200 registrations based in around 40 countries and representing 77 different organisations.

Events - November 22, 2021 midnight

Bank of Canada Survival Analysis of Banknote Circulation

The Bank of Canada (BOC) has a Currency Inventory Management Strategy (IMS) based on its high-speed sorters that capture the image of every banknote, including the serial number, along with the date the banknote was created, shipped from the central bank’s distribution sites and returned to them.

Studies-Reports - November 22, 2021 midnight

K&B BNS Goes Digital with ValiCash™

Koenig & Bauer Banknote Solutions (K&B BNS) has launched an app that is described as bridging the gap between the physical and the digital. Known as ValiCash™, the app not only helps identify but actually authenticates high security documents as well by scanning the document and giving either a ‘Pass’ or a ‘Fail’ response almost instantaneously.

Technology - November 18, 2021 midnight

A One-Time Boost for Cash Volumes in Australia

Australia is often touted as one of the countries moving the fastest to becoming a cashless society. Whilst longer-term projections and data on payment habits support that view, recent figures from the Reserve Bank of Australia (RBA) and the Royal Australian Mint (RAM) indicate the opposite over the last year, albeit the (hopefully) one-off consequence of COVID.

Studies-Reports - October 30, 2021 midnight

News in Brief

META Materials Inc, a developer of high-performance functional materials and nanocomposites, has announced the completion of the acquisition of Nanotech Security Corp, which produces secure nano-optic security features for banknotes and other secure documents, in a deal valued at c. C$91 million. Nanotech has now been delisted from the TSX Venture Exchange.

News - October 29, 2021 midnight

Cash Processing Solutions – a Well-Kept Secret

Cash Processing Solutions (CPS), the clue to whose activities is in its name, describes itself as one of the industry’s ‘best kept secrets’. Currency News spoke to Barrie Foley, to find out more about the company’s portfolio, its plans for growth, and where it sees itself and the cash industry going in the next few years.

Interviews - October 29, 2021 midnight

People in The News

Øystein Olsen, Governor of Norges Bank, has announced he will retire next February, a year before his second term is due to end. The Central Bank of Chile has appointed Beltrán de Ramón to the role of General Manager, responsible for the day-to-day operations. He replaces Alejandro Zurbuchen Silva, who has retired.

News - October 29, 2021 midnight

Beyond Traditions – Future in Security Printing

Jura held a number of workshops on 5-6 October in Budapest as part of the newly-launched Jura Academy. This was one of the first physical events where customers and suppliers travelled to come together for the first time in the last 18 months or so, and representatives were in attendance from Austria, Czech Republic, France, Lithuania, Germany, Netherlands, Slovenia, Oman, Yemen, UAE, Saudi Arabia, the UK and, of course, Hungary itself.

Events - October 29, 2021 midnight

‘Cash: a Roadmap to Sustainability’

With the UN Climate Change conference, COP 26, taking place through early November, we thought it would be appropriate to review the environmental work of stakeholders in the cash industry over the last few years.

Sustainability - October 29, 2021 midnight

In Other News…

The Bank of Ghana has announced that 1 and 2 cedi banknotes are to be phased out in favour of coins. A bimetallic 1 cedi coin has been in circulation since 2007 and a 10-sided bimetallic 2 cedi coin was introduced in 2019. According to the Bank, the phase-out is due to heavy usage of the notes and the high costs of replacement compared with coins.

News - October 29, 2021 midnight

Hot Air, Hard Data

COP 26 is taking place next week in the UK. The leaders of the world will be in attendance (most of them at least – the Russian and Chinese presidents aren’t turning up) along with around 30,000 others – from negotiators and journalists to lobbyists, NGOs, businesses and even protesters – from 200 or so countries.

Free - October 29, 2021 midnight

Nepal Continues Roll-Out of New Banknote Series

Nepal Rastra Bank began issuing a new series in 2020, starting with 1,000, 100 and 50 rupees. This year, despite the COVID restrictions, it has continued the programme with the issue of new 20, 10 and 5 rupee notes. The new 500 rupees is expected to follow in 2022.

Banknotes - October 29, 2021 midnight

WBS Announces Agenda

The World Banknote Summit (WBS) has announced the programme which, due to COVID, will be held online on 22-24 November. According to the organisers, the focus of WBS is not on touching all bases or providing a general overview, but about getting to the heart of the issues that are of paramount importance to the payments industry.

Events - October 29, 2021 midnight

Virtual EMEA Cash Cycle Seminar (ICCOS)

With COVID still disrupting travel plans, the 11th EMEA Cash Cycle Seminar (ICCOS) is being held virtually on 2-3 November. Over 200 attendees representing central banks, commercial banks, CIT and suppliers from more than 40 countries have registered for the two half days of thought leading presentations in an agenda dominated by cash users.

Events - October 29, 2021 midnight

Sustainability: A Hallmark of Cash

An early memory, when beginning my career at Crane Currency, was noticing long rows of steaming compost in the fields adjacent to the company’s banknote paper mills. I learned that much of this organic material was made up of solids from the papermaking process – cotton and flax ‘fines’ that, when mixed with other field and yard waste, produced a rich and valuable compost.

Sustainability - October 18, 2021 midnight

News in Brief

Slovakia may be the next EU monetary union participant to drop the two lowest denomination euro coins. The Slovakian cabinet has issued a draft revision to the law on prices and, if passed by the Slovakian Parliament, the new pricing rules would become effective 1 January 2022.

News - September 30, 2021 midnight

NPA’s New MES Delivered On Time, Despite Challenges

Despite the obstacles associated with bringing a six-person technical team to Melbourne from Milan, not to mention the delays caused by the blockage of the Suez Canal, Parvis has successfully delivered a new ABACO-MES to Note Printing Australia within the planned four-month timeframe.

Companies - September 30, 2021 midnight

De La Rue to Further Upgrade Production in Malta

De La Rue has announced a major upgrade to its existing facilities in Malta, to turn them into a 29,000 m² state-of-the-art manufacturing site. This investment is supported by Malta’s economic development agency, Malta Enterprise, and the Maltese government.

Companies - September 30, 2021 midnight

Uncertainty Prevails

This is now the seventh Industry Watch, covering 21 months, where COVID-19 has been the main issue influencing market values and trends. Given the differing impact of COVID at a given time on regions and industries and, as we are entering the last quarter of 2021, it is useful to compare the performance year to date in both our usual selected world markets and separately in markets in some other countries.

Companies - September 30, 2021 midnight

Regional Banknote of the Year Awards to Go Online for 2021

One of the highlights of the High Security Printing™ conferences each year are the regional awards for the best banknotes and ID documents. Thanks to COVID-19, no in-person HSP has been possible since the last event in Lisbon in March 2020. Reconnaissance International, organiser of the HSP events, has decided to bridge the gap by holding a series of virtual awards instead.

Events - September 30, 2021 midnight

More Bicentennial Celebrations

Close on the heels of Guatemala, another country in Latin America that has issued a commemorative banknote to celebrates its bicentennial this year is the Bank of Mexico, with a new 20 peso. The latest GUARDIAN® polymer banknote issued in the Bank’s G series of notes, the new 20 pesos depicts the Army of the Three Guaranties (Religion, Union and Independence) entering Mexico City on 27 September 1821.

Banknotes - September 30, 2021 midnight

After the Pandemic – What Next for the Cash Industry?

We normally reserve the crystal ball gazing in Currency News™ for the end of the year, but the pandemic is no respecter of editorial calendars, and the consequences of the pandemic on our industry will last long beyond the next calendar year.

Comment - September 30, 2021 midnight

People in the News

Following its AGM, the International Currency Association has elected three new Board members – Sam Keayes (Crane Currency), Etienne Couëlle (Oberthur Fiduciaire) and Roberto Salgari (Parvis).

News - September 30, 2021 midnight

In Other News

Japan’s National Printing Bureau has started producing new 10,000 yen banknotes, which are expected to enter circulation in the first half of 2024. A special ceremony was held to mark the start of production, attended by Finance Minister Aso Taro.

News - September 30, 2021 midnight

Goznak Sales and Profit Fall in 2020, but Exports Up

Goznak is a joint stock company in which the sole shareholder is the Russian government. It competes in both Russian and global markets for security products, with a portfolio ranging from banknotes and banknote paper, circulating and commemorative coins, identity documents, excise and postage stamps to, more recently, digital technologies.

Companies - September 30, 2021 midnight

Major Order from India for CPS

Cash Processing Solutions (CPS) has announced a multimillion-pound contract to supply Single Note Inspection Systems to the Security Printing and Minting Corporation of India Ltd (SPMCIL).

Companies - September 30, 2021 midnight

Winners of IACA Awards for Pandemic Response Initiatives

The International Association of Currency Affairs (IACA) held its Excellence in Currency awards ceremony on 23 September, at which it presented the eight nominations and announced the winners of the ‘Best Currency Initiative Implemented in Response to the Covid-19 Pandemic’.

COVID-19 - September 30, 2021 midnight

Bank Al-Maghrib Invests in Green Technology

In 1987, Morocco established its own national banknote printing and minting company, Dar As-Sikkah, a department of the central bank (Bank Al-Maghrib) responsible for printing banknotes, minting coins, and producing secure documents.

Technology - September 24, 2021 midnight

Guatemalan Independence Creates a Banknote in a New Light

2021 is a profoundly important year for much of Central America. Guatemala celebrates its bicentennial, recognising 200 years of independence from Spain, declared on 15 September 1821 in what is known as the Act of Independence of Central America.

Banknotes - September 24, 2021 midnight

Why Cash Matters – Not Despite but Because of COVID

COVID-19 has wreaked havoc on the global poor. It has also strongly impacted the lives of many women, and, as a consequence, children, the world over. For everyone thus affected by COVID-19, cash is often a lifeline, a means of support, of escape and maintaining personal freedom, of independence and of securing livelihoods.

Free - September 20, 2021 midnight

Catch Me if You Can – ECB Reports on Cash and COVID

A new report published last month – ‘Catch Me (If You Can): Assessing the Risk of SARS-CoV-2 Transmission via Euro Cash’ – by the European Central Bank (ECB) sought to answer key questions such as, how long do coronaviruses remain infectious on banknotes and coins? Is it possible to become infected through contact with cash?

COVID-19 - August 31, 2021 midnight

The ICA – An Opportunity to be a Force for Good

The International Currency Association (ICA) was founded in 2016 to create a single, cohesive voice for the currency industry. Its principal objective has been, and continues to be, to make the case for cash as a public good at an industry, public and political level, and to demonstrate that cash is a vital part of the present and future payment landscape.

Interviews - August 28, 2021 midnight

In Other News

Hungary’s central bank – Magyar Nemzeti Bank – has released a series of six new commemorative coins to celebrate the 75th anniversary of the introduction of the forint.

News - August 27, 2021 midnight

Krypten Plans Release of 3D-GRAM® CONTRUST

Next month, Russian secure hologram company producer KRYPTEN will introduce the 100/50 Nobelists house note, featuring a new 3D-GRAM® CONTRUST photopolymer security patch for use on paper and polymer banknotes.

Banknotes - August 27, 2021 midnight

Pakistan To Try Out Polymer

The State Bank of Pakistan (SBP) is the latest central bank planning to issue polymer notes, with a commemorative note to mark the 75th anniversary of independence in 2022, and another to mark the 75th anniversary of the founding of the Bank in 2023.

Substrates - August 27, 2021 midnight

Diversity Exemplified in G7 Banknote Denominations

The recent meeting of the G7 (Group of Seven, an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the UK and the US) held in the UK prompted De La Rue to look at the banknotes of the participating countries, which threw up some interesting divergences in their approaches to banknote security.

Banknotes - August 27, 2021 midnight

CCL Secure Makes Multi-Million Investment

CCL Secure is cementing its leading position in polymer production for banknotes with major additions to the capabilities of its production lines. The company is investing £9.5 million to include support for its latest two innovations.

Companies - August 27, 2021 midnight

Cash & Payment News August Issue

Cash & Payment News™ didn’t go on holiday in August. Instead, it has focused on the environment, the importance of inclusion, a paper by ESTA on access to cash, a country profile of cash in Rwanda, a study of cash in Italy and the review of a BIS paper on CBDC privacy.

CBDC - August 27, 2021 midnight

IBDA – New Perspectives

The International Banknote Designers Association (IBDA) has launched a series of New Perspective webinars to keep the industry focused on the wider perspectives regarding innovation and emerging trends, threats and challenges to banknotes, and the ‘bigger picture’ on payments and emerging technologies.

Events - August 27, 2021 midnight

A Colourful Celebration Guatemalan Independence

The Bank of Guatemala has published the designs of its new commemorative 20 quetzales banknote and 1 quetzal coin marking the country’s bicentennial anniversary. This will be the first commemorative banknote in the Bank’s history.

Banknotes - August 27, 2021 midnight

All Eyes on COP 26 and Climate Change

On 1 November the latest UN Climate Change meeting, COP 26, starts in Glasgow in the UK. We can expect significant press interest and focus on the event in particular, and the environment in general.

Free - August 27, 2021 midnight

How to ‘Green’ the Cash Cycle

Jens Eberhardt, Managing Director of Cashinfrapro, has written a paper – ‘Green Cash Logistics’ – which considers how modern ways of working can reduce the environmental impact of the cash cycle. This article, which appeared in sister publication Cash & Payment News™, is a summary of the paper.

Sustainability - August 27, 2021 midnight

Mint & Print is Back

Mint & Print (MAP), the biennial industry conference previously run by the Banque du Liban in Beirut, is back for 2021, but this time taking place in Dubai.

Events - August 27, 2021 midnight

Nanotech Sells to Smart Light Company

Optical security feature provider Nanotech Security Corporation has agreed to be acquired by Meta Materials, a developer of high-performance functional materials and nanocomposites, for nearly C$91 million.

Companies - August 27, 2021 midnight

Sign up to the CBDC Academy

With six weeks to go the CBDC Conference, which takes place online from 4-6 October, some 40 central banks have registered to attend and to listen to the 50 speakers who are confirmed in the programme.

Events - August 27, 2021 midnight

Registered Threads – Perfect Security, Perfect Storytelling

In the Banknote of the Month feature in last month’s Currency News™, we covered the Central Bank of Honduras’ new 200 lempira note which, among other features, is the first in the world to incorporate a registered Galaxy® thread. In this article, Louisenthal explains the significance of this new advance in thread technology.

Features - August 27, 2021 midnight

News in Brief

The Central Bank of Chile is urging citizens to ferret out any spare change they may have lying around amid a national shortage of coins. In a series of recent Twitter posts, the central bank warned that ‘COVID-19 had affected the circulation of cash’ and hurt small retail vendors.

News - August 27, 2021 midnight

In Other News…

The Bank of Scotland, one of Scotland’s three note issuing banks, has released its new polymer £50 note, featuring Sir Walter Scott and the Falkirk Wheel, a rotating boat lift in central Scotland that connects two major canals.

News - July 30, 2021 midnight

CINEMA – From Concept to Completion

Launched in 2020, CCL Secure’s new CINEMA™ security feature is gaining many admirers for its ability to combine 3D style depth with movement in a single feature, says the company.

Features - July 30, 2021 midnight

New Features Sought for US Currency

The design of the next generation of US currency is underway, and the Bureau of Engraving and Printing (BEP) is now looking for new ways to integrate covert machine-readable features into future versions that could be used to detect and deter counterfeiting.

Banknotes - July 30, 2021 midnight

Peru Begins Roll Out of New Series

The Banco Central de Reserva del Perú has unveiled the designs of its new banknote series with modern designs, new motifs and leading-edge security features.

Banknotes - July 30, 2021 midnight

News in Brief

Giesecke and Devrient (G+D) has invested in UK-based FNA (Financial Network Analytics), a deep technology firm specialising in advanced network analytics and simulations.

News - July 30, 2021 midnight

IACA Awards for COVID Measures

The International Association of Currency Affairs (IACA) 2021 award scheme, which recognises the measures developed by organisations across the currency community to deal with, respond to and mitigate the impacts of COVID, has received eight nominations.

COVID-19 - July 30, 2021 midnight

100 Years of SARB, the Pandemic and Recent Events

The South African Reserve Bank (SARB) was founded 30 June 1921, shortly after the end of World War I. Its primary objective was to restore and maintain order in the issue and circulation of domestic currency and restore the gold standard to the pre-World War I rate of exchange.

Central Banks - July 30, 2021 midnight

Before, During and After the Pandemic – Measures Taken, Lessons Learned

I have had the dubious pleasure of having been part of G+D’s global Corona crisis team for the past 15 months, during which time I have had the chance to gain live insight into what has been happening with the more than 11,500 people at the more than 50 sites of our company group worldwide and at our customer sites in almost all countries on this planet during the crisis.

COVID-19 - June 29, 2021 midnight

Banknote Security: Getting People to Pay Attention

The Bundesbank reported in August 2020 a marked increase in counterfeits where no attempt had been made to mimic the security features. There is a high level of trust in the authenticity of euro banknotes.

Counterfeiting - June 29, 2021 midnight

A Busy Year for the RBI

The Reserve Bank of India (RBI) has published its 2020/21 Annual Report which saw a small rise in demand for banknotes and the RBI continuing with its programme of developing how it does its business.

Studies-Reports - June 29, 2021 midnight

New Traffic Light Security Ink from GSI

Gleitsmann Security Inks (GSI) has launched what it terms the ‘world’s first traffic light for banknotes’ in the form of mouve GSI, a unique security feature that will help safeguard cash and other security documents using luminescent colour effects.

Technology - June 29, 2021 midnight

The Paradoxical Development of the Usage of Cash: a Global Update

The lockdowns and travel restrictions caused by the pandemic have had a great influence on retail shopping and payment habits. Besides the increase in online shopping, the growing use of contactless and mobile payments media have decreased the use of cash in transactions. Several recent payment studies confirm these developments.

Studies-Reports - June 29, 2021 midnight

The New £50

The introduction of the new £50 was undertaken by the Bank of England Governor, Andrew Bailey, at a special ceremony at Bletchley Park, once the top-secret home of the World War Two codebreakers and where Alan Turing, the subject of the note, carried out his most famous work breaking the Enigma code.

Banknotes - June 29, 2021 midnight

News in Brief

The ATM Security Association (ASA) has launched a new worldwide Crisis and Crime Management Intelligence System (CCMIS).

News - June 29, 2021 midnight

The Bank of England – Planning for the ‘New Normal’

Cash in the UK is in an interesting place at the moment. The cash paradox – higher demand, lower use – is very much in evidence, as are growing concerns about the future of cash allied to branch and ATM closures, concerted moves from the government downwards to encourage people to pay digitally, and what the cash infrastructure could and should look like in the future.

Interviews - June 29, 2021 midnight

Changes to Currency News, and New Online Platform

After several months of a COVID-enforced digital only publication of Currency News™, we are happy to announce the resumption of the hard-copy distribution of the newsletter from July. Thank you for your patience during the disruption and we ask a little more forbearance as delivery services attempt to return to something like their pre-COVID levels.

News - June 29, 2021 midnight

Sustainability and Protecting the Environment in Banknote Presses and Printing

COVID has given companies the opportunity to reflect and look at sustainability and the environment with more pressing urgency. There have been webinars and virtual conferences where this topic has been headlining, with paper manufacturers in particular demonstrating their activities to reduce carbon footprints and ensure the future and life cycle of banknotes is protected.

Sustainability - June 29, 2021 midnight

When is a Counterfeit not a Counterfeit? We Need to Know!

Counterfeiting is a sensitive subject. Without counterfeiters most of us would not have a job, but central banks have a difficult line to walk. They need the public to check their banknotes, but equally they need the public to trust and have confidence in their currency.

Counterfeiting - June 29, 2021 midnight

Markets Gain as Confidence Returns

This is now the sixth Industry Watch, covering 18 months, where COVID-19 has been the main factor influencing market values and trends, both directly and indirectly.

Companies - June 29, 2021 midnight

Bank of England Annual Report – Banknotes Increase, Counterfeits Fall

The week before the issue of the new £50, the Bank of England published its annual report for 2020/21, which showed an increase in notes in circulation of £10.3 billion (14%). It credited this increase to the launch of the new polymer £20 note in February 2020 and the pandemic. These figures are quite a contrast to the Reserve Bank of India’s annual report, also issued recently, which saw a 7.2% increase.

Studies-Reports - June 29, 2021 midnight

Imagining the Currency of the Future

The think-tank CashEssentials in collaboration with Wipplay, a community platform dedicated to photography, is back this year for its fourth photo contest, this time inviting participants to focus on imaging the future through the medium of currency.

Free - June 29, 2021 midnight

Event Update from Currency Research

Currency Research has announced a webinar focusing on ‘Currency Use and Banknote Technology’, in support of the combined Banknote & Currency Conference.

Events - June 29, 2021 midnight

People in the News

The Mexican President has nominated his finance minister and economist Arturo Herrera Gutiérrez as the next Governor of the Bank of Mexico, to replace the incumbent, Alejandro Díaz de León, whose mandate is not being renewed.

News - June 29, 2021 midnight

Defining Minimum Visual Quality Standards: Malaysia’s Approach

It is a challenge to introduce minimum quality standards for banknote fitness. There are a number of good examples of how to manage machines that handle banknotes, whether in a cash centre or elsewhere, the European Central Bank being an example. But reaching those who handle and work with cash without the benefit of machines is more difficult.

Studies-Reports - June 29, 2021 midnight

In Other News…

The Central Bank of Honduras has announced that a new 200 lempira note will be issued in September. Notes of 1, 2, 5, 10, 20, 50, 100 and 500 lempiras currently circulate in Honduras. The last note to be introduced – the 500 – was in 1997.

News - June 29, 2021 midnight

Cash & Payment News June

This month’s Cash & Payment News™ focuses on the environment, research on cash usage, payment challenges and token-based Central Bank Digital Currencies (CBDCs).

CBDC - June 29, 2021 midnight

New Dates for MDC

The MDC has announced the new dates and locations for the Mint Directors Conference.

Events - May 28, 2021 midnight

US Coin Shortages Persist

Despite the increase in production at the US Mint, coins for general circulation are still struggling to keep pace with public demand, forcing the Federal Reserve to again limit orders from its customers, especially for dimes and quarter dollars. It is monitoring its inventories to determine whether order limits will be extended to cents and 5 cent coins as well.

Coins - May 28, 2021 midnight

Two Peas in a Pod: Cash and CBDCs

There is much talk and activity around Central Bank Digital Currencies (CBDCs) at the moment, particularly retail CBDCs. As one reads the papers and listens to the frequent webinars about them, it is striking that there is a requirement for CBDCs to replicate the performance of cash. And that is clearly proving a challenge.

Comment - May 28, 2021 midnight

News in Brief

Swedish cash management service provider Loomis has announced that it has entered into an agreement to acquire certain assets and liabilities of SecurePost AG, a subsidiary of Die Schweizerische Post (Swiss Post Group).

News - May 28, 2021 midnight

Turnaround Plan Pays Off for De La Rue

De La Rue’s results for 2020-21 were not expected to be easy to understand or compare with the previous year(s) due to all the changes that took place, continued this last year and will continue, albeit to a much lesser extent this coming financial year. However, the main takeaway is that the company is alive and well and positive about its future.

Companies - May 28, 2021 midnight

A Year of Pivot for RCM, as Bullion Sales Boom, But Coins Decline

The Royal Canadian Mint (RCM) has announced its financial results for 2020. Overall, sales were boosted by 74% due to booming demand for gold bullion products. However, the increased revenue was matched by increased costs, so did not result in a corresponding increase in profit. Instead, profits were lower by 35% due to lower revenues from other parts of the business, among them circulating coins.

Studies-Reports - May 28, 2021 midnight

A New ‘Super Event’ for Physical, Digital and Virtual Document Security

Reconnaissance International, organisers of the Optical Document Security™ and Digital Document Security™ conferences, have announced that these are to be combined into one new ‘super-event’ for physical, digital and virtual documents – Optical & Digital Document Security™ – which will take place in-person in Vienna from 17-19 January 2022.

Events - May 28, 2021 midnight

Future of Cash: Continuing the Conversation

Following the success of the Future of Cash online event in February 2021, the organisers – AGIS Consulting and CashEssentials – are continuing the conversation and providing a coherent story of today’s cash challenges and tomorrow’s opportunities.

Events - May 28, 2021 midnight

Qatar’s New Banknotes – Art, Progress and Technology Brought Together

The Qatar Central Bank formally launched its 5th Series of banknotes on Qatar National Day, 18 December 2020, replacing the 4th Series that was issued in 2003. The Qatar Central Bank wished to modernise the banknotes and to incorporate the latest security features. The new series, designed by De La Rue in close co-operation with the Qatar Central Bank, has achieved this whilst maintaining a thematic link to previous designs.

Banknotes - May 28, 2021 midnight

Russia Moves Forward with New Series

The Deputy Chairman of the Bank of Russia, Mikhail Alekseev, has provided local media with more details of the new Russian series, which will start going into circulation with the new 100 rubles in 2022. It will be followed by the 1,000 and 5,000 rubles in 2023, the 500 rubles in 2024 and 10 and 50 rubles in 2025. The 200 and 2,000 rubles, both introduced in 2017, will not be included in the new series.

Banknotes - May 28, 2021 midnight

A New Star is Born

Louisenthal has added a new security thread to its portfolio based on its RollingStar® technology, which combines two security technologies – ColourShift for colour changes and micro-mirrors for dynamic effects arranged according to highly complex algorithms. For the new thread, RollingStar® i+, the two technologies have, through intensive research and in conjunction with magnetics for machine-read, been elevated to a new level.

Features - May 28, 2021 midnight

Return to Profit on Cards for Finnish Mint

The Mint of Finland, the leading exporter of coins and blanks with 99% of sales coming from overseas customers (up from 93% in 2019), reported near-flat consolidated revenue of €57.2 million in 2020, and an operating loss of €5.1 million (versus €1.4 million the previous year).

Coins - May 28, 2021 midnight

May’s edition of Cash & Payment News

This month we highlight a number of challenging areas for digital payments, rising card fees in the US and Germany, research that suggests people select banks based on branch proximity and that the pain of paying leads people to spend more and make unwise choices.

CBDC - May 28, 2021 midnight

CBDC Conference Update

The Central Bank Digital Currency (CBDC) conference has now moved wholly online on 4-6 October 2021. Registration is now open.

Events - May 28, 2021 midnight

CCL Secure Targets Note/Coin Boundary with SPARTAN

CCL Secure has unveiled SPARTAN™ – an ‘ultra-durable’ new polymer substrate that has been designed specifically to provide a new option for central banks and issuing authorities who have low denomination, high transaction velocity denominations that sit on the cusp of the note/coin boundary.

Companies - May 28, 2021 midnight

Vietnam Marks 18 Years of Polymer Banknotes

The State Bank of Vietnam (SBV) is celebrating not just its 70th anniversary, and the 30th anniversary of the National Banknote Printing Plant, but is also marking its 18th year of using polymer banknotes from CCL Secure.

Banknotes - May 28, 2021 midnight

Hybridised Systems – The Future of Banknotes?

At the recent Digital Document Security Online conference, held at the end of March, Sina Gebrodt, a final-year student at the Design Academy Eindhoven, reported on the project that she and Madison Bucher, a user-experience designer, had undertaken on the future of banknotes. This project was sponsored by Koenig & Bauer Banknote Solutions (K&B).

Banknotes - April 30, 2021 midnight

‘Four Nations’ Common Adversarial Analysis Assessment Methodology

The Four Nations group was founded in 1978 and consists of five central bank members – the Board of Governors of the Federal Reserve System, Bank of Canada, Reserve Bank of Australia, Bank of England and Banco de México. The group is a forum in which its members share information and experiences on banknote development, issuance and distribution, counterfeit deterrence, and relevant technical studies.

Central Banks - April 30, 2021 midnight

G+D Reports Strong 2020 Despite the Pandemic

Giesecke+Devrient, like so many other companies, has faced considerable challenges over the past year. But through effective cost management and by increasing the margins in its business, it was able to boost its operating result for 2020 by 13% to €153 million on revenue of €2.3 billion, which was only slightly down (-5%) on last year. The net profit for the year was €43 million.

Companies - April 30, 2021 midnight

Hybrid ADDvance® – Creating Long Lasting Confidence

In last month’s Currency News™, Clemens Berger of Louisenthal wrote about the importance of embedded security features and how they are the benchmark for the overwhelming majority of banknotes. This month, he follows up with more information specifically on how their substrate family – Hybrid ADDvance® – is part of that story.

Features - April 30, 2021 midnight

Bank of Canada Reports on 2020

The COVID-19 pandemic saw payment behaviour deviate markedly from historical trends. Unsurprisingly this features heavily in the Bank of Canada’s 2020 annual report. On one hand it put pressures on its cash inventories as the Bank moved fast to boost stocks at its regional distribution centres. Its operations centres had to respond with agility and to innovate to ensure cash supply was uninterrupted.

Central Banks - April 30, 2021 midnight

What Makes Polymer Banknotes Green?

For many people, their perception of plastic is negative. Plastic is one of the world’s ‘bad guys’ these days, with newspaper headlines and TV programmes dominated by images of polluted oceans or mountainous garbage dumps. But, as always, the truth is more nuanced than the ‘all plastic is bad’ trope might have you believe.

Sustainability - April 30, 2021 midnight

Cash As Part of a Sustainable Future Payments Mix

The UK was the first major economy to pass laws for net zero carbon emissions by 2050 and has cut emissions by more than 40% since 1990. It’s also committed to reduce its emissions at least 68% compared to 1990 levels – this is the fastest rate of reductions from a major economy to date and will help contribute towards the international goal of limiting the global temperature rise to below 1.5°C.

Sustainability - April 30, 2021 midnight

G+D and UN Global Compact – Greener Banknotes

With a climate goal of a 25% reduction in CO2 emissions by 2022 (base year 2016), Giesecke+Devrient (G+D) and its papermaking and feature subsidiary Louisenthal state that they are making a significant contribution towards climate protection – surpassing the goal, and achieving a reduction of 32% in 2020.

Sustainability - April 30, 2021 midnight

Portals Invests to Deliver Sustainability

Portals published its Sustainability Report on April’s Earth Day. With two UK paper mills, one at Overton making banknote paper based on cotton and one at Bathford making security papers based on wood pulp, sustainability is potentially a big issue for the company.

Sustainability - April 30, 2021 midnight

News in Brief

Brink’s has bought PAI, Inc, the largest privately-held provider of ATM services in the US, for $213 million. PAI offers managed services and tools for ATM owner-operators, as well as owning its own ATMs. It writes its own software, providing cash management and maintenance solutions for ATMs.

News - April 30, 2021 midnight

Major Milestone for Schuler

Schuler Press, the leading manufacturer of coin production equipment, has reached a major milestone with the sale this month of its 1,000th high performance minting press.

Companies - April 30, 2021 midnight

Bank of England Shrinks Cash Footprint

The success of the new polymer series and falling transactional demand are behind the Bank of England’s proposal to close its regional cash distribution centre in the northern city of Leeds, in February 2023.

Central Banks - April 30, 2021 midnight

More Than You Knew There was to Know – the ‘Security Threads for Banknotes’ Report

The evolution of the security thread has happened at breakneck speed, with the pace accelerating in recent years. Today 95% of all paper banknotes contain a security thread and the options available can feel bewildering even to those familiar with banknotes. There is now a new way to make sense of all this – read the just published ‘Security Threads for Banknote’ report from Currency News™.

Studies-Reports - April 30, 2021 midnight

G+D Partners with Doconomy for Payments

G+D has also announced that it is joining forces with the Swedish fintech start-up Doconomy to enhance payment solutions with digital sustainability-oriented tools.

Companies - April 30, 2021 midnight

In Other News…

Japan will begin issuing newly redesigned ¥500 coins from around November, the Finance Ministry has said, after their initial release in the first half of the fiscal year from April was postponed due to the pandemic, and in particular delays to updates to ticket and automated teller machines.

News - April 30, 2021 midnight

A Match Made in Heaven – Portals to Acquire Fedrigoni’s Security Business

Portals, the second largest commercial banknote and security paper manufacturer, has entered into an agreement with Fedrigoni, one of the leading European producers of specialty papers and self-adhesive labels, to buy its security business based in Bollate in Italy, which specialises in security threads and foils.

Companies - April 30, 2021 midnight

Sustainability – the New Normal After the Pandemic

The last year has been dominated by the COVID-19 pandemic, which continues to surprise and to wreak huge damage. But perhaps there is another global issue that is just as urgent – namely, climate change and, as part of that, environmental sustainability.

Sustainability - April 30, 2021 midnight

Denmark’s Route to Upgraded Banknotes

Late last year Danmarks Nationalbank began the upgrade of its banknote series with a new 500 kroner, setting the scene for more advanced security features across all its banknotes.

Banknotes - April 30, 2021 midnight

Using Advanced Maths for Inspection

A number of central banks are investing time and money to understand the life cycle and performance of banknotes based on tracking the changes in individual banknote detector scores over time. It does this by reading banknote serial numbers, and their detector data, and analysing the results. Given the number of detectors on a sorting machine, the volume of data generated reaches the realms of ‘big data’.

Central Banks - April 30, 2021 midnight

Manufacturing Excellence – the Seprinto & Partners Way

As part of a series of webinars from the World Banknote Summit, Jacques Lang presented for Seprinto & Partners (S&P) three examples of how they have helped banknote printers optimise their production, reducing their consumables and waste.

Companies - April 30, 2021 midnight

News in Brief

Despite Sweden being in the vanguard of the cashless movement, its central bank – Sveriges Riksbank – is opening new offices to handle notes and coins.

News - March 30, 2021 midnight

Has Globalisation Had its Day?

Globalisation is the result of the ability to move and communicate easily with others leading eventually to global cultural, political and economic integration.

Comment - March 30, 2021 midnight

The Unique Identity of a Polymer Banknote

When a polymer banknote is produced, a number of opacification layers are printed onto the core substrate so that it can accept the traditional banknote printing processes such as litho, intaglio, screen and letterpress printing.

Counterfeiting - March 30, 2021 midnight

People in the News

The Federal Reserve of New York has announced the appointment of Naureen Hassan as its First Vice-President and Chief Operating Officer (COO). She replaces Michael Strine, who retired at the end of February.

News - March 30, 2021 midnight

Shareholders Approve G4S Acquisition

G4S shareholders have accepted a £3.8 billion from Allied Universal, bringing to a close a months-long battle between two firms to take control of the security services company.

Companies - March 30, 2021 midnight

Cash & Payment News in March

Cash & Payment News™ this month follows two main themes, payments and cash in a pandemic, along with a range of CashTech and other stories.

CBDC - March 30, 2021 midnight

Prosegur Takes Over Services from Cash Subsidiary

Prosegur Compañia de Seguridad (Prosegur) and its listed subsidiary Prosegur Cash have reached an agreement for the acquisition, by the former, of most of the process outsourcing and value-added services business developed by Prosegur AVOS, which was founded and is owned by the latter.

Companies - March 30, 2021 midnight

In Other News…

The Central Bank of Iraq has added a feature to its banknotes to protect them from bacteria and viruses, including the coronavirus strain. The feature is not named, but is described as a biological pesticide developed by international companies specialised in printing banknotes, and is presumed to be incorporated in a coating/varnish. The notes containing the feature will be put into circulation soon.

News - March 30, 2021 midnight

Bitcoin and Banknotes – When Physical Meets Digital

Cryptocurrencies, the best known of which is Bitcoin, exist almost entirely in the digital sphere, connecting with the physical world only if the owner writes down their digital key or if they use one of the growing number of ATMs where they can exchange their cryptocurrency for physical cash. A new venture, Noteworthy, is looking to change that, embedding cryptocurrencies into what will look and feel like a traditional banknote.

Technology - March 30, 2021 midnight

ECCB Completes its New Series

The Eastern Caribbean Central Bank (ECCB) issued its new $5 polymer banknote into circulation this month, completing the transition of its new family onto SAFEGUARD® polymer banknotes.

Banknotes - March 30, 2021 midnight

The Risks Around Generic Security Features

One increasingly common counterfeit technique is harvesting – the act of taking a security feature from a lower value object and incorporating it into a counterfeit banknote of higher value. There are several ways to minimise harvesting, including making each security feature bespoke.

Counterfeiting - March 30, 2021 midnight

Checking in With You – About Corvina

According to Jura, COVID-19 has required a lot of strategic rethinking. The company’s core way of conducting business has always been in-person, building rapport with current and future clientele via personal contact.

Technology - March 30, 2021 midnight

Game Changers Smooth Banknote Production

Ergonomics and automation are well-known terms these days. But where does the banknote industry stand in these areas? Do printworks have to address both areas, which benefit employees and companies alike?

Technology - March 30, 2021 midnight

COVID-19 Recovery Dominates Markets

This is now the fifth Industry Watch where COVID-19 has been the main influence on company performance and market trends, and this situation is unlikely to change any time soon.

COVID-19 - March 30, 2021 midnight

Luminescence Sun Chemical Security – Combining Family Values with Global Reach

Three years ago, the family-owned security ink business Luminescence was acquired by Sun Chemical, the world’s largest manufacturer of inks and pigments to create, in its words, a new global player and an enormous growth platform for the company in the $2.7 billion security ink market. Since then, whilst the company is now called Luminescence Sun Chemical Security, it seems to be very much business as usual in the highly specialised security ink market, where technical requirements are exceptionally demanding and competition relatively limited.

Interviews - March 30, 2021 midnight

Spectra Launches New COVID-19 Banknote Disinfection System

In 2014, Spectra Systems (Spectra) launched Aeris™, a unique new banknote disinfection system which uses carbon dioxide in a supercritical phase to penetrate banknotes and remove oxidised oils and other contaminants, effectively ‘washing’ the notes with gas.

Technology - March 30, 2021 midnight

KOMSCO Implements Emergency Measures

The state-run Korean Minting, Security Printing and ID card Operating Corp (KOMSCO) has announced the implementation of an emergency management system in the face of losses sustained last year.

Companies - March 30, 2021 midnight

Orell Füssli Results for 2020 Demonstrate Resilience

The COVID-19 pandemic is a prime factor in companies’ financial results for the last year, and for most its impact has been negative. Orell Füssli’s results are no exception. In an opening statement it said the company ‘held its own in a difficult market environment in 2020. Although sales and profitability were lower than in the previous year and cash flow was negative due to high capital expenditure, our balance sheet allows us to pay a dividend to our shareholders’.

Companies - March 30, 2021 midnight

Five Winners in Expanded Range of Central Banking Awards

The National Bank of Ukraine, the ECB and Federal Reserve, Crane Currency and CCL Secure are among the winners in the Central Banking Awards 2021, presented annually by the Central Banking Journal and which this year have nearly doubled in number to 29.

Central Banks - March 30, 2021 midnight

Russia Unveils New Plans for Banknotes and Cash Circulation

The Board of the Central Bank of Russia has issued its ‘Guidelines for Cash Circulation Development in 2021-2026’. Its over-arching goals are to ensure the stability of cash circulation, optimise costs based on the development of technical infrastructure, as well as the formation of partnerships with banks for holding stocks of banknotes.

Central Banks - March 30, 2021 midnight

Goznak Moves into Digital Payments

Russian banknote printer and papermaker Goznak is the latest in a series of currency suppliers to move into digital payments, having signed an agreement to acquire a stake of 50% plus one share in fintech company Preprocessing Settlement Center JSC (JSC PRT), which operates under the Uniteller trademark.

Companies - March 30, 2021 midnight

The ECB’s Environmental Sustainability Journey

At Intergraf's just-concluded Currency+Identity online conference, Bernadette O’Brien presented the work done by the European Central Bank (ECB) on improving the environmental sustainability of euro banknotes. From its first life cycle assessment (LCA) of the first euro series in 2004 through to its 2020 Product Environmental Footprint project, the ECB has steadily worked to ensure the euro banknotes are ‘good citizens’.

Sustainability - March 30, 2021 midnight

Banknote Security – Don't Take the Risk! Embedded Security Features are the Benchmark for the Overwhelming Majority of Banknotes

The technology platforms used for banknotes continues to rise ever higher, for all security levels – 1, 2 and 3. Challenging and beating the counterfeiter is central to the design, functionality and security of banknotes. And we note that with a well-defined security feature matrix to raise the bar, there can be success.

Banknotes - March 30, 2021 midnight

2020: A Good Year for Polymer Banknotes

Competition creates energy and change. It can be argued that 2020 was the year where the impact of there being two suppliers of polymer substrate in the banknote market started to be seen. The take-up of polymer by central banks accelerated, while investment brought new security features to market, more capacity and more recycling capability.

Banknotes - March 2, 2021 midnight

Security Threads for Banknotes

A new special report, ‘Security Threads for Banknotes’, is about to be released. Published by Currency Publications, it follows the successful and informative Special Report ‘Diffractive Features on Banknotes’. Published in a similar format, the 130-page report is available in both printed and digital form.

Studies-Reports - March 2, 2021 midnight

UK Cash Industry Joins Forces to Meet Climate Targets

In the last quarter of last year, the UK bank NatWest established three cross industry working groups to improve the environmental performance of the UK’s cash cycle. Involving 36 organisations, the working groups looked at energy, plastics and CO2 to establish best practice and to drive change.

Sustainability - March 2, 2021 midnight

Libya Marks Anniversary with New Polymer Note

The Central Bank of Libya has issued a new 5 dinar note on De La Rue’s SAFEGUARD® polymer substrate, its launch coinciding with the 10th anniversary of the 17 February 2011 Revolution. It is the country’s second polymer note, the first – the 1 dinar – having been issued in 2019.

Banknotes - March 2, 2021 midnight

Authentication Through Animation

Banknotes have become highly sophisticated, with a massive range of machine readable features to fight the counterfeit threat. At the same time, says Louisenthal, it has also been creating innovative Level 1 features, to stop the counterfeit threat at the first pass, which are memorable, simple to use, visible even under poor lighting conditions and which, at the same time, also send a positive theme into the local community.

Banknotes - March 2, 2021 midnight

News In Brief

Prosegur, including its cash business Prosegur Cash, is the first security group to sign up to ‘The Climate Pledge’, a commitment to achieve net zero carbon by 2040. The Climate Pledge initiative was created by Amazon and Global Optimism in 2019 and 53 companies are now signed up to it.

News - March 2, 2021 midnight

CEO Baton Passed on at Koenig & Bauer

2021 started with the CEO of Koenig & Bauer, Claus Bolza-Schünemann, handing over the baton to Dr Andreas Plesske, board member responsible for Koenig & Bauer’s Special segment, which includes Banknote Solutions.

News - March 2, 2021 midnight

Banque de France Invests in Modernisation

Actemium Cournon Engineering is a subsidiary of VINCI Energies, specialising in industrial engineering that accelerates manufacturing integration and control using new technologies. Based 15km from the Banque de France’s printing plant, it was hired to work on five key projects, two in the paper mill and three in the printworks.

Technology - March 2, 2021 midnight

Healthy Indoor Environment for Banks and Banknote Processing

Royal Dutch Kusters Engineering (Kusters) – which specialises in banknote destruction systems - has expanded its portfolio with its new range of Air Purification systems, in response to the importance of a healthy indoor environment in offices and cash processing areas.

Technology - March 2, 2021 midnight

Cash & Payment News in February

The theme of February’s Cash and Payment News (CPN) is very much on the future of cash and payments, considering as it does two sides of a coin, namely evidence of cash under pressure and the robust activity underway to keep it available, useful and preferred.

CBDC - March 2, 2021 midnight

Shrap Offers a Future Without Coins

At the Future of Cash conference, Chris Forero-Slee introduced his business, Shrap. As he said, he does not expect to be popular with those who make their living from or who like coins. Shrap (the company presumably takes its name from shrapnel, ie. fragments of shells or bullets but also a colloquial term for small change) is a solution that offers an alternative to coins, which they regard as a ‘pain point’ in payments.

Coins - March 2, 2021 midnight

BIN Global Central Bank Survey Results

Banknote Industry News (BIN) surveyed 36 central banks at the end of 2020 with a wide range of questions. Two thirds of those surveyed did not change their banknote handling practices in the pandemic, neither disinfecting nor quarantining notes. The 25% who have changed their practices, continue with them. Although a quarter said that trust and confidence in banknotes had been reduced by the pandemic, 69% said there was no change.

Studies-Reports - March 2, 2021 midnight

The View from China

As relayed to Currency News in this month’s On the Record, the Chairman of China Banknote Printing and Minting Corporation (CBPM), Mr Yang Lijie, is optimistic about the future of cash, proud of the achievements of his organisation in terms of quality, sustainability and CSR, and willing to make more friends and more partners with the industry around the world.

Central Banks - March 2, 2021 midnight

Quality, CSR and Partnership on the Global Stage – an Interview with the Chairman of the Board of CBPM

China Banknote Printing and Minting Corporation (CBPM) is the world’s largest manufacturer for banknotes and coins – not only producing more currency than any other printer or mint, but also offering the full gamut of production and security technology through a network of subsidiaries dedicated to R&D, features, substrates and ink, minting, printing and processing equipment, as well as production itself.

Interviews - March 2, 2021 midnight

In Other News…

The Central Bank of Iran has unveiled the designs of three new banknotes as part of the transition of Iran’s currency from the rial to the toman. Under the changes, four zeroes will be knocked off the rial and it will be renamed.

News - March 2, 2021 midnight

How the Cash Industry Can Turn Goodwill into Practice

Corporate Social Responsibility (CSR), something of a buzzword in ‘corporate speak’, is defined as a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public. Which sounds great, as indeed it is. But isn’t really anything new.

Comment - March 2, 2021 midnight

The Modern Omani Renaissance in Banknotes

ln celebration of the 50th anniversary of the Modern Omani Renaissance, the Central Bank of Oman (CBO) has launched a new series. Oman, officially the Sultanate of Oman, is located on the southeastern coast of the Arabian Peninsula at the mouth of the Arabian Gulf, sharing its borders with the United Arab Emirates, Saudi Arabia and Yemen. The first national currency was introduced in 1970, replacing the Gulf rupee. Its current name, the Omani rial, was adopted in 1972. Coins were introduced earlier, in 1941.

Banknotes - March 2, 2021 midnight

Seaweed – a Natural Solution to Keep Banknotes Clean

COVID-19 has impacted cash usage in a number of ways. Some were inevitable, such as a reduction in use due to the move to online shopping and lockdowns. But one was avoidable and has unfairly and negatively affected both the use and perception of cash, and that was that it carried, and was capable of transmitting, the coronavirus.

Technology - March 2, 2021 midnight

Solidarity in Times of Crisis

The COVID-19 pandemic has had massive impact at a global scale. If mostly negative, it has also generated an incredible surge of solidarity. Governments, associations and individuals have all in their own way launched initiatives to help those most in need. Koenig & Bauer Banknote Solutions along with the banknote industry have played their part too.

COVID-19 - March 2, 2021 midnight

New Home for SICPA Down Under

The reputation of the Reserve Bank of Australia’s Craigieburn site in Melbourne as the world’s most unique banknote precinct has been strengthened with the arrival of SICPA Australia, which is basing its headquarters there. Note Printing Australia (also located on the site) has a long-term supply agreement with SICPA, and the RBA is committed to the use of SICPA proprietary features such as SPARK Live™ on its banknotes for the foreseeable future.

Companies - March 2, 2021 midnight