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China begins replacing one yuan banknote with coin

Banknotes, Coin, NewsBy SMI 14/03/2016

According to the China Radio International’s (CRI) English service, the People’s Bank of China is to begin gradually replacing the one yuan banknote for a coin. In January, the Jinan branch of the People’s Bank of China announced that it will issue the one yuan coins instead of banknotes to commercial banks in five pilot…

It’s here! SMI’s new website has launched

News, SMIBy SMI 11/03/2016

Following our recent announcement of the management buy-out by Secura Monde’s management team, Jonathan Ward and Martin Arkwright, we are excited to announce the launch of our newly designed website.Check out our new site to see the services we provide within the banknote and cash management industry, including pre-issue services such as currency structure analysis,…

9 ways to secure your mobile wallet

Cashless Payments, NewsBy SMI 10/03/2016

The adoption of mobile payment solutions has, certainly in the last two years, been massive. With the launch of mobile wallets from key industry players such as Apple and Google, there has also been an influx of solutions from much smaller companies, with reports of new mobile wallet systems being released around the world as a daily event.…

UAE issues new 200 dirham banknote

Banknotes, NewsBy SMI 08/03/2016

According to local reports, on the 7 March 2016 the United Arab Emirates Central Bank released into circulation a new 200 dirham banknote. The new note includes tactile marks for the visually impaired, which now completes the entire banknote series following a program to upgrade the designs of existing banknotes with such features throughout 2015.…

Introducing Google Hands Free payments

Cashless Payments, NewsBy SMI 02/03/2016

Google has today released an app which is being piloted by users, allowing them to make in-store payments without handling either their wallet or smartphone. The app was first announced in May last year during Google’s I/O developer conference. The limited public pilot, which is being tested in a number of retail stores and restaurants in San…

Management Buy-out by Secura Monde (SMI)

News, SMIBy SMI 29/02/2016

We are pleased to announce the management buy-out of Secura Monde International Ltd (SMI) by its management team, Jonathan Ward and Martin Arkwright. SMI provides consultancy services to Central Banks and other clients in the banknote and cash industry, and was acquired by G4S plc in 2009. Today’s acquisition will allow SMI to operate again as a fully…

Australia sees rise in counterfeit banknotes

Banknotes, NewsBy SMI 29/02/2016

There have been several reports in the global media regarding an increase of counterfeit banknotes in Australia. The sources relate to the Reserve Bank of Australia’s Annual Report which identified a 63% increase in counterfeit banknotes withdrawn from circulation during the 2014/15 period. This equated to 37,000 notes with a nominal value of $2.0 million, which…

Lesotho to issue new M200 banknote

Banknotes, Currency, NewsBy SMI 25/02/2016

According to African news agency StarAfrica, the Central Bank of Lesotho has revealed that it will be launching a new M200 banknote in April this year as part of the current series of banknotes launched in 2010 featuring three generations of the Basotho kings. “The old M200 banknote featuring the portrait of the founding father of…

Paym usage increases by 89%

Cashless Payments, NewsBy SMI 10/02/2016

A press release issued on the 9th February 2016 has confirmed that the use of the Paym mobile payment service increased by 89% during the second half of 2015 compared with the same period the previous year. Paym allows users to send and receive payments to a current account held at participating banks or building…

Call to ban high value banknotes

Banknotes, NewsBy SMI 08/02/2016

Former Chief Executive of Standard Chartered Bank, Peter Sands, has called on Central Banks to stop issuing high value banknotes in order to tackle crime. A report by Mr Sands produced for the Harvard Kennedy School, has highlighted the use of such banknotes by “terrorists, drug lords and tax evaders”, “The scale of such illicit…