News, stories and events about currency from around the world.
Banknotes have taught us the value of money, they are a way to pass on a country’s history, to remind us of our past... and yet their future is very uncertain. Several countries have promised that they will soon be cashless. Banknotes will progressively disappear but the public might be unaware of the aftermath of such a change. Thanks to investigative journalist Ryan Martin for this insightful look at what might be in store in a cashless society.
In Korea a company called Coinplug allows ATM operators to accept bitcoins. Over 7000 ATMs can now accept bitcoins in Korea thanks to the ATM manufacturer Nautilus Hyosong.
The oldest challenges in the ATM industry are the security of cash inside the machine and the guarantee that the withdrawer is genuine.
Whereas the magnetic stripe has been used for a long time, EMV chip and PIN is now commonplace in the ATM industry for withdrawals in the U.K. and Europe. But the fact that EMV is not truly global as yet means that fraud can continue to take place.
