NEWSLETTER SIGNUP
Banknotes
The Banknote Group
The link between Banknote Validating Equipment Manufacturers and European Banknote Issuing Authorities
Banknote validators may not be very popular, as yet, in your typical food and drink machine. However, with the increase of choice of products on offer and higher priced products, it is critical that banknotes are accepted reliably, consistently and securely. Consumers will walk away or use another payment method if the note is not accepted after its initial insertion.
Well before the Euro was introduced, the EVA established relevant relations with the European Central Bank. Validating Equipment manufacturers and the ECB held bilateral meetings to discuss banknote features relevant to the validating industry. EVA Members made recommendations in this respect so that specifications would take these elements into account, with the main objective being to ensure optimal validation.
The Banknote Group is a platform for banknote validating equipment manufacturers, which includes banknote validators, as well as other types of banknote counting or authenticating equipment manufacturers.
Their common interest is to make sure that whenever new notes or note features are introduced they have sufficient information, in advance, to design or fine-tune their products to accept them reliably, securely and consistently.
Once the notes are in circulation, the Group will coordinate any comments to the relevant authorities about issues that may arise in the field base. This can include quality issues that affect validation, as well as counterfeiting issues that may arise.
The Group also makes recommendations on future banknote features and how these can be securely authenticated and validated in their equipment.
More recently, the EVA Banknote Group has been approached by EURICPA, the European Intelligent Cash Protection Association, which brings together manufacturers of note staining systems. The EVA and EURICPA have decided to work together to ensure that, in future, effective rejection of stained notes is carried out.
Well before the Euro was introduced, the EVA established relevant relations with the European Central Bank. Validating Equipment manufacturers and the ECB held bilateral meetings to discuss banknote features relevant to the validating industry. EVA Members made recommendations in this respect so that specifications would take these elements into account, with the main objective being to ensure optimal validation.
The Banknote Group is a platform for banknote validating equipment manufacturers, which includes banknote validators, as well as other types of banknote counting or authenticating equipment manufacturers.
Their common interest is to make sure that whenever new notes or note features are introduced they have sufficient information, in advance, to design or fine-tune their products to accept them reliably, securely and consistently.
Once the notes are in circulation, the Group will coordinate any comments to the relevant authorities about issues that may arise in the field base. This can include quality issues that affect validation, as well as counterfeiting issues that may arise.
The Group also makes recommendations on future banknote features and how these can be securely authenticated and validated in their equipment.
More recently, the EVA Banknote Group has been approached by EURICPA, the European Intelligent Cash Protection Association, which brings together manufacturers of note staining systems. The EVA and EURICPA have decided to work together to ensure that, in future, effective rejection of stained notes is carried out.
