In Canada, Pay with Cash and Plastic at the Same Time!

What's Next In Payments®
8:20 PM EDT March 25th, 2012

An innovation in cash announced last July is coming to fruition on Monday, as the Bank of Canada begins circulating its new polymer $50 and $100 notes to replace cotton-paper money.

“This is a big change for Canadians, and it’s a positive change,” the bank said in July. Notably, the polymer notes offer better security (easier to check, harder to counterfeit), are more durable (could last 2.5x longer than cotton cash), and are easier to recycle.

Perhaps most importantly, the Bank of Canada says the new notes will “reflect Canada’s spirit of innovation.” Here here!

At a press event scheduled for 1 p.m. on March 26, the Bank of Canada will make the $50 note available for purchase — but ONLY using cash. Neither credit nor debit cards are welcome at this all-about-cash event, which will be attended by Bank of Canada Governor Mark Carney.

Should you be so inclined, audio and video webcasts of that event will be available from the Bank of Canada’s website.

Comments
Also by This Author
What's Hot
News
Mobile Payments Fuel Starbucks Growth
Merchant Innovation
ATM Networks Join Forces Against Fraud
News
Amazon Stock Tumbles on Losses
Merchant Innovation
MoneyGram Beefs Up Exec Ranks
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Controversial
It’s Earnings Season: What We’ve Learned So Far
Alternative Financial Services
The FI Payments’ Innovation Survival Kit
Alternative Financial Services
“Embrace Innovation” (Or Else Suffer The Consequences)
News
Mobile Payments Fuel Starbucks Growth
View All Articles ››