“Paper Or Plastic?” Soon To Be An Irrelevant Question
Paying by plastic will persist even in the face of the imminent digital payment revolution and will ensure counterfeit resilient cash.
The days of ATM cards may well be numbered once NFC methods of payment are sufficiently diffuse in the customer base. However, that doesn’t mean you won’t be able to pay with plastic anymore if Canada’s recent monetary motions are anything to go by. The Bank of Canada will begin minting polymer based $100 bills this coming November, with the $50 bill due to transition in early 2012:
These new bills offer more security due to the basic fact that plastic is harder to counterfeit than paper. Canada’s new bank notes will have innovative security features that are easy to verify, said the Governor of the Bank of Canada, Mark Carney. “The leading-edge technology in these notes will expand the frontiers of bank note security.