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Kuwait issues sixth banknote series

Banknotes, NewsBy SMI 29/06/2014

The sixth issue of the new Kuwaiti currency has today been released into circulation. In a statement to the Kuwait News Agency (KUNA), the Central Bank of Kuwait had prepared for the release stating “All denominations of the new banknotes are to be available for the general public through all branches of banks operating in the State…

Cheque imaging: Pay in cheques by photo

Cashless Payments, News, TechnologyBy SMI 25/06/2014

Instead of visiting your local bank branch, you will soon be able to pay in cheques by taking a photo of it and sending it electronically using, for example, your smartphone. The UK government has said that the new proposed system, piloted by Barclays, was received positively during consultation and will now be included in planned…

Contactless payments reach Glastonbury festival

Cashless Payments, NewsBy SMI 13/06/2014

Mobile network operator EE has developed a Glastonbury festival app which will include their “Cash on Tap” contactless payment service. The telecommunications company has paired with Glastonbury organisers to produce the official Festival app which will also provide users with music line-ups, interactive maps and real-time festival updates. Using cash at festivals such as Glastonbury, which drew crowds of 250,000…

Expedia to accept Bitcoin payments

Cashless Payments, NewsBy SMI 12/06/2014

Expedia, one of the world’s largest online travel agencies, has announced that they will begin accepting Bitcoin payment transactions. It will limit the payments to hotel bookings initially and will only be available to those using the US version of their online store during its trial of the new payment service. Bitcoin payments are already…

Goznak to become a joint-stock corporation

Banknotes, Coin, Currency, NewsBy SMI 06/06/2014

Goznak, Russia’s Federal State Unitary Enterprise and one of the world’s largest producers of coins, banknotes, postal stamps and awards, is to be transformed into an open joint-stock corporation following orders from President Vladimir Putin. Putin has ordered that this occur within the next 18 months. All shares in Goznak will remain with the Russian state.…

Lithuania to adopt the euro in 2015

Currency, NewsBy SMI 04/06/2014

The European Commission has advised that Lithuania has met the criteria for joining the European single currency, the euro. To be able to adopt the euro, a country has to have government debt below 60% of gross domestic product (GDP), a budget deficit under 3% of GDP, low inflation and interest rates and its own…

London buses cashless from 6 July 2014

Cashless Payments, NewsBy SMI 03/06/2014

Transport for London (TFL) has today advised the public that their network of buses will stop accepting cash payments from Sunday 6th July 2014. Instead, pre-paid Oyster cards or contactless payment cards can be swiped against on-board card readers, and Travelcards continue to be available. Related stories: London buses to stop using use cash Source: Transport…

UK cash use declining but still the predominant choice

Banknotes, Cashless Payments, Currency, NewsBy SMI 02/06/2014

A report released today by the British Retail Consortium (BRC) shows that cash use in payment transactions is still the predominant payment choice but is one that is gradually declining. The BRCs Retail Payments Survey 2013 reports that cash has reduced in value, number of transactions and the average transaction value. When comparing to the 2012 figures, cash…

De La Rue plc reports 2014 results

Banknotes, Currency, NewsBy SMI 28/05/2014

This morning De La Rue plc (DLR) reported its full year results for the 2013/2014 period. The largest commercial producer of banknotes and security documents, which has a market capitalisation of around £880 million, has reported a 37% increase in pre-tax profits for the year to March 29 2014, showing continued recovery from the paper production…

First UK polymer banknote to be issued 2015

Banknotes, NewsBy SMI 23/05/2014

The first plastic polymer banknote to be issued in the United Kingdom will be circulated in 2015. Two million Scottish £5 banknotes will be issued by Clydesdale Bank branches (not the Bank of England, which will issue its own polymer £5 banknote design in 2016). The new Scottish note features the Forth Bridge on its…