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London tube to use contactless payment cards

Cashless Payments, NewsBy SMI 28/07/2014

From 16 September 2014, users of the London Underground network in the UK will be able to use contactless payment cards to pay for travel as well as the existing pre-paid Oyster cards. This includes travel on all Tube, DLR and Overground trains. They will work in exactly the same way as the current Oyster card…

Dell to accept Bitcoin payments

Cashless Payments, NewsBy SMI 21/07/2014

Dell, the third largest PC seller in the world with an annual revenue of around $57 billion, has announced that it will accept Bitcoin payments. Users will now be able to pay for purchases made online from Dell.com, through a partnership with Bitcoin exchange company, Coinbase. Dell’s website advises: “Why is Dell accepting bitcoin? Bitcoin…

ECB releases biannual counterfeit banknote info

Banknotes, Currency, NewsBy SMI 18/07/2014

The European Central Bank (ECB) has released its half year statistics on counterfeit banknotes, showing a reduction compared to the second half of 2013. In total, 331,000 counterfeit euro banknotes were withdrawn from circulation during the first half of 2014. This equates to around 0.002% of banknotes in circulation today (16.4 billion notes as at June 30, 2014).…

New Zealand to issue new banknotes in 2015

Banknotes, NewsBy SMI 07/07/2014

The Reserve Bank of New Zealand has advised it will introduce new banknotes next year which will be modernised with advanced security features. The banknotes will continue to have a polymer substrate, will remain the same size and will continue to use the same denominations. The changes will be seen in the banknote designs, but they will still use…

Malawi to issue banknotes with blind recognition features

Banknotes, NewsBy SMI 04/07/2014

The Reserve Bank of Malawi (RBM) has advised that it will release new Malawi Kwacha banknotes which include features designed for people with visual impairments. The Bank advised they would start to issue the new banknotes from August this year. The change comes following requests from the Malawi Union of the Blind (MUB) and the Federation…

Russia to issue Crimea banknote

Banknotes, NewsBy SMI 03/07/2014

The Central Bank of Russia has announced that it plans to issue a banknote dedicated to Crimea by the end of 2014. This was announced during a banking conference held in St Petersburg on Wednesday 2 July 2014 “We plan to issue a banknote dedicated to Crimea, but it will be a banknote of the…

Singapore to stop issuing $10,000 banknote

Banknotes, Currency, NewsBy SMI 03/07/2014

It was announced yesterday by the Monetary Authority of Singapore (MAS) that they will stop issuing $10,000 banknotes (£4,694) from 1st October 2014 in a bid to increase anti-money laundering controls. The comments were made yesterday during a Keynote Address at the ABS Financial Crime Seminar by Mr Ong Chong Tee, Deputy Managing Director (Financial…