Cashmaster International, a leading company in the global cash management sector, confirmed today that its software will be upgraded to weigh both paper and polymer notes.
Over the coming weeks, polymer notes will be firstly introduced into Scotland by the Clydesdale Bank, with a £5 note displaying a picture of the Forth Rail Bridge as part of the 125th anniversary celebration for the bridge.
The Bank of England will then follow in 2016 and again in 2017 with further editions of the £5 and £10 notes. The UK will join the ranks of 25 other worldwide countries that already using polymer notes.
Research by the Bank of England has indicated that the plastic polymer notes are more durable, secure, cleaner and less expensive to produce than paper notes.
Malcolm Offord, Chairman of Cashmaster International, said
“As a leading authority in providing loss prevention solutions, our products are ready for the introduction of polymer notes, which will provide much more security against fraud and counterfeit notes”.
CEO, Gordon McKie added,
“We are satisfied that our count-by-weight ‘cash counting’ products will be able to weigh both sets of notes, and we’ll be providing relevant reassurances to our many customers in the UK. We are also examining other solutions to enhance the overall cash management process. Our priority is to ensure that our customers will not be inconvenienced in any way and our products adapt with a smooth transition to handle the new polymer notes”.
The Bank of England undertook an extensive consultation process and found that public acceptance of the polymer notes was higher when they handled the ‘mock-up’ versions, which provided the bank with confidence to proceed. The introduction of the notes will be accompanied with a wide-spread media campaign to widen the knowledge of the polymer notes.
For additional information please contact: Inger Davidson, Marketing Manager or Katalin Bodi, Marketing and Digital Executive, at [email protected] or 01383 416 098.
Notes to Editors
Cashmaster International is a global company which specializes in the design and manufacture of count-by-weight ‘cash counting’ products and offering cash handling solutions.
Cashmaster’s ‘cash counting’ products are designed and manufactured in Scotland.
The company is headquartered in Rosyth, Scotland, and has offices in Europe and the USA with distributors across the world. Clients include some of the world’s largest Blue Chip international companies in the retail, banking and restaurant sectors.
Cashmaster International has over 30 years’ experience in creating knowledgeable and innovative cash handling solutions for a wide range of customers. The company has a wide knowledge and understanding of the extended ‘cash cycle’ which enables clients to benefit from their cash processing challenges.
Each Cashmaster count-by-weight machine is built to the highest standard with the most advanced technology. They are lightweight, durable and portable with silent operation and a small footprint, making them ideal for the retail, office or even a front-of-house environment.
www.cashmaster.com