There is much talk here in the lower-48 about doing away with the dollar bill and replacing it with a coin (let’s face it, we’re just resistant to change), but there is one potential roadblock: the vending machine industry. Canada has
run into this problem; the Bank of Canada recently released plastic-based $20 bills to replace the older cotton-paper-based banknotes. It turns out, however, that they are “indigestible” to vending machines.
Each vending machine or other device that processes bank notes — such as self-serve checkouts, parking-permit dispensers and even ATMs — can require up to 15 minutes of reprogramming administered on site by a technician using a laptop.
The labour-intensive process is costly, time-consuming and follows weeks or months of software development, testing and training by manufacturers and service providers.
Lockie’s group had asked the Bank of Canada to release its new plastic $5 and $10 bills at the same time as the $20s to allow for a single recalibration visit to each machine. But the bank decided to issue the two lower denominations simultaneously later this year, forcing vending-machine owners to plan another round of site visits in 2013, absorbing the costs.
I recall some years ago when the redesigned $20s came out here in the U.S. and the self-serve checkout machines at my local supermarket chain couldn’t handle them for a while. Funny how you take these things for granted, not realizing what a headache something as seemingly minor as a monetary design change can cause.
About Richard Romano
Richard Romano is Managing Editor of WhatTheyThink. He curates the Wide Format section on WhatTheyThink.com. He has been writing about the graphic communications industry for more than 25 years. He is the author or coauthor of more than half a dozen books on printing technology and business. His most recent book is “Beyond Paper: An Interactive Guide to Wide-Format and Specialty Printing.