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SMI is the acknowledged world leader in the provision of independent technical & commercial expertise to the currency industry. Founded in 1994, SMI consultants each have many years’ experience working in the currency industry, and consequently have extensive knowledge and understanding of all aspects of the banknote and coin markets, offering consultancy services on a range of issues related to the security, manufacture, issue, circulation and management of physical cash in the economy.

Authenticate payments using your heartbeat

Cashless Payments, News, TechnologyBy SMI 12/08/2015

Canadian company Nymi has developed an authenticating wristband which uses a person’s unique electrocardiogram (ECG) reading. According to the company, the wristband allows wearers to “seamlessly unlock devices, remember passwords and more”. Nymi first discussed using their wristband technology as a payment authenticator last year and, following a successful trial, it now claims that the…

China to issue new 100 yuan banknote

Banknotes, NewsBy SMI 04/08/2015

According to local news agencies, China will soon be releasing a new 100 yuan banknote. The People’s Bank of China, China’s Central Bank, is reportedly planning to release the new banknote in November this year. The new note will contain improved security features to help combat counterfeit banknotes circulating within the country, which has seen…

Maldives issue new Safeguard® polymer banknote

Banknotes, NewsBy SMI 29/07/2015

The Maldives Monetary Authority (MMA), the country’s Central Bank, has issued a new commemorative banknote printed on De La Rue’s Safeguard® polymer substrate. The 5,000 Rufiyaa note, which is a new high value denomination, was issued on Monday the 27th July 2015. It is issued to mark the 50th Anniversary of independence of Maldives. The…

Ukraine restricts cash use

Cashless Payments, NewsBy SMI 28/07/2015

The National Bank of Ukraine, the country’s Central Bank, has issued a press release stating that it has passed a resolution which restricts the use of cash within the country. The bank has passed a “Resolution On Setting a Cap on Cash Payment” (Resolution No. 210, dated June 6, 2013) whereby cash payments have been…

ECB releases euro counterfeit banknote info

Banknotes, NewsBy SMI 18/07/2015

The European Central Bank (ECB) has issued its latest information regarding counterfeit euro banknotes identified during the first half of 2015. The reported figures show a decrease in the number of counterfeit banknotes withdrawn from circulation during the first half of 2015 compared to the last half of 2014. In total, 454,000 banknotes were withdrawn…

Apple Pay launches in the UK

Cashless Payments, NewsBy SMI 14/07/2015

From today more than 250,000 shops across the UK will begin accepting Apple Pay payments, including Boots, the Post Office, Marks & Spencer, Waitrose and London’s transportation network Transport for London (TfL). Users of Apple’s NFC enabled devices can now use them to make contactless payments in retail stores as well as in-app and online…

MasterCard to use authenticating biometric “selfies”

Cashless Payments, News, TechnologyBy SMI 06/07/2015

A report by news channel CNN-Money has announced that MasterCard will begin to trial the use of biometric payment authentication by approving online purchases with facial scanning. Customers will be able to scan their faces using their mobile phone’s camera – commonly referred to today as a “selfie”. The reason behind this innovation is simple:…

Mobile cheque service expands in UK

News, TechnologyBy SMI 04/07/2015

Barclays Bank is rolling out its mobile cheque imaging service to a further 1 million customers, allowing them to process their cheques via their smartphone instead of taking them to their nearest branch. The technology allows users to take a photo of the cheque using their mobile phone’s camera, which is then used by the…

Syria issues new 1,000-pound banknote

Banknotes, NewsBy SMI 03/07/2015

The Central Bank of Syria has reportedly issued a new 1,000-pound banknote into circulation. The note, which is the highest value Syrian banknote denomination and worth around US$5, has been issued to help improve the paper currency currently in circulation, according to state news agency SANA which quoted Governor Adib Mayaleh. The Central Bank advises…

Bolivia upgrades 50 boliviano banknote

Banknotes, NewsBy SMI 03/07/2015

The 50 boliviano banknote has been upgraded by the Banco Central de Bolivia, the country’s central bank. The latest upgrade of the boliviano banknote is part of the new “J” series of banknotes from Bolivia. The 50 boliviano banknote was first issued in 1987 and was last upgraded in 2005. The upgraded paper banknote includes a 3mm wide…