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Sweden Issues New Banknote Series

Banknotes, NewsBy SMI 06/10/2015

Sweden’s Central Bank, Sveriges Riksbank, has now launched their new series of 20-, 50- 200- and 1,000-krona banknotes, with the 100- and 500- krona banknotes and 1-, 2- and 5-krona coins to be issued next year in October. The new banknotes were launched on the 1 October, 2015 by the bank, after working on the…

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Samsung Pay mobile payments launch in US

Cashless Payments, NewsBy SMI 28/09/2015

Samsung Pay, the mobile payments application from Samsung, has now been launched in the US. Since Monday, those in the US with a compatible handset, namely Samsung’s Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge + and Galaxy Note5, have been able to make mobile payments in stores. Samsung Pay not only works using Near…

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India updates notes for visually impaired

Banknotes, NewsBy SMI 25/09/2015

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…

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Samsung Pay hits $30M in 1 month

Cashless Payments, NewsBy SMI 25/09/2015

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…

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Australia 90 per cent cash free by 2027

Cashless Payments, News, TechnologyBy SMI 23/09/2015

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…

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Banknote demand grows in the UK

Banknotes, NewsBy SMI 15/09/2015

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…

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