The British Retail Consortium (BRC) and Cash Dynamics, a leading specialist in developing unique cash handling solutions for the retail sector, have signed a strategic alliance to offer BRC retail members a design and build service for innovative bespoke cash handling solutions.
A new polymer note – the £5 – is scheduled for launch in the UK from September 2016, with the £10 note following in the second half of 2017.
The new note will provide three main benefits; a longer circulation life, a cleaner more hygienic note and far more advanced security features. It is expected that this will evidence a decrease in forged / counterfeit notes.
The Bank of England’s principle aim is to maintain public confidence in circulated currency used on a daily basis. International reports from other countries already using polymer type notes is that their introduction will result in counterfeiting activities noticeably reducing. Additionally for the Bank of England cost of production and an extended period in circulation will benefit all.
Cash Dynamics, its partners and associates have undertaken significant levels of testing of the new £5 independently and in mixed format with paper notes. Utilising our TSDi product range the processing results have proven to be very positive.
For further information on this subject please use the Bank of England link below or contact Cash Dynamics directly.
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