The Reserve Bank of India has issued a press release advising of new ₹500 and ₹1000 banknotes incorporating additional features for the visually impaired which it will shortly be putting into circulation. The Bank had recently released the same denominational notes with numerals in ascending size, but without bleed lines or enlarged identification marks, which…
Samsung Pay, the mobile payments application launched by Samsung in South Korea a month ago, has already been used for $30 million’s worth of transactions by users. From its launch on 20 August until 20 September, Samsung Pay reportedly had 1.5 million transactions, and 10% of South Koreans using the app daily. The mobile payment app allows…
A report by Australian bank Westpac has stated that Australian smartphone users predict the country will be 90% cash free by 2027. In fact, Westpac believe there is an expectation that it could be as early as 2022 if excluding survey results from those who believe the country will never be cash free. The Westpac…
The Bank of England has announced that banknote demand for its notes is increasing. In an article released today, the Bank of England confirms that banknote demand is growing faster than nominal GDP. Banknotes with an estimated value of £62.6billion are thought to be in circulation, resulting in the equivalent of £1,000 in banknotes in…
Android Pay, the new mobile payments technology owned by Google, has today been launched in the USA. Android has begun the rollout of its new service, allowing users to make payments with their compatible Android phones in stores, which will continue for the next few days. Like most mobile payments, Android Pay uses near field…
A press release issued by MasterCard yesterday talks of their plans to enable limitless contactless payments across Europe by 2017. MasterCard states that during the second quarter of 2015, contactless payments, also known as “Tap & Go”, grew by 170% year on year across Europe. They also state that the value of euro contactless payments…
The Royal Bank of Scotland (RBS) has chosen to use De La Rue’s Safeguard® polymer substrate for its new £5 and £10 banknote designs. RBS, which is the second largest issuer of banknotes in Scotland by volume, announced that the new designs for each note will be revealed within the coming months and intends to…
The Bank of England has today announced that the next design of the £20 banknote will be printed on a polymer substrate instead of traditional paper. The announcement was made by Victoria Cleland, the Bank of England’s Chief Cashier, at the Follow the Cash 2015 Conference hosted by the University of the West of England…
From today, shoppers in the UK can make contactless card or mobile payments up to a value of £30 per transaction. Contactless payments are those made without the use of a pin or signature, made by touching a contactless enabled payment card or mobile device against a compatible payment terminal. The limit has gradually risen…
The Bank of Thailand has issued a new 1000-baht banknote. The new note entered circulation today following an unveiling of the note by the Bank’s Governor, Mr.Prasarn Trairatvorakul, last Monday. The paper banknote contains updated security features to aid both machine and human authentication, including those with visual impairments. The updated features include: A watermark…