Wednesday, September 20, 2017 | Today's Vending Industry News
Vending Machines Are Rejecting Australia's Redesigned $5 Banknote

Posted On: 10/7/2016

  • Printer Friendly Version
  • Decrease Text SizeIncrease Text Size
  • PDF


TAGS: Australia's new $5 note, Australian banknote validators, Australian National Vending Association, Nick Aronis, vending machine

CANBERRA, Australia -- Australia's new $5 note has been designed to make counterfeiting even harder, and features braille lettering to help people with impaired sight. But these innovations are causing vending machines to reject them, according to the UK's Daily Mail.

The new note began circulating in early September. The problem is caused by the clear security strip that runs through the banknote's middle. Australian National Vending Association president Nick Aronis told the paper that the bill validator starts to read the note, identifies the clear stripe as the end of it, does not recognize it and spits it back out. This also poses a problem for validators on self-checkout terminals and gaming machines.

While many machines have been upgraded, many still are in need of new firmware or bill validator replacement. With an estimated 70,000 machines in operation throughout Australia, that could cost the industry tens of millions of dollars, according to the Daily Mail report.

Aronis claimed that vending manufacturers had a limited time to develop new firmware and upgrades. He added that bill validators more than six or seven years old may have to be replaced.

The Reserve Bank of Australia said that it began consulting with stakeholders years ago, and made banknotes available to all equipment manufacturers in October 2014, followed by providing the actual banknotes for testing in December 2015.

Changes to the $10 and $20 bills are planned over the next few years, which could mean millions of dollars more in upgrade costs for the vending industry.

SOURCE:

Are you being served? How the new $5 notes are being REJECTED by pokies, vending machines, self-serve checkouts and TAB betting station