In the UK, the Bank of England is proposing the introduction of plastic, or polymer, banknotes from as early as 2016 – but what will this mean for the pay-to-play amusement sector?

Notes

The BoE is aiming to boost banknote security and durability by introducing polymer notes and is launching public consultations into the proposals, which would see the first polymer note feature Sir Winston Churchill, followed by a second with Jane Austen.

But will the introduction of these new notes mean amusement operators will have to make wholesale changes to their bill acceptors? Andy Bassam, customer support manager at payment solutions specialist Innovative Technology, says not. “In terms of note validation, polymer banknotes pose no additional issues and note validators will accept and stack as normal,” he told InterGame, adding that in fact the notes will bring numerous advantages for the industry.

“By utilising polymer, UK banknotes can take advantage of improved security and durability measures. Evidence points to lower counterfeiting risks and overall higher security, as polymer allows additional security measures to be added, which is another boost for the industry.”

Bassam explained that polymer banknotes ought to be “more pleasant to handle” as they stay cleaner and are more durable, with an average life expectancy of more than 2.5 times that of the existing UK paper notes.

Polymer banknotes are manufactured from transparent plastic film, specially coated with an ink layer that enables them to carry the printed design features of banknotes. The materials allow the inclusion of windows or clear portions in the design, which enhance protection against counterfeits.

“The first note that could be polymer is the £5 Winston Churchill due in 2016, followed by the £10 Jane Austen,” he continued. “These notes may be smaller than what we currently have but probably no smaller than existing euros. Despite the visible material change the UK polymer banknotes will retain their overall look.”

Over 20 countries currently issue polymer banknotes. These include Australia, which introduced them in 1988, New Zealand, Mexico, Singapore, Canada and Fiji, which began using them in 2013.

“ITL validators would not require any hardware modifications to accept the new polymer banknotes,” said Bassam. “The only update required would be a free currency firmware update to incorporate the new polymer banknote data. Customers across the industry would face minimal disruption if the introduction of polymer banknotes goes ahead.”