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SCAN COIN signed the memorandum of understanding for the introduction of the new 50€

Press release
June 2016
On 15 June 2016, SCAN COIN participated at the European Central Bank (ECB) seminar at the Banco España in Madrid. During the event a Memorandum of Understanding (MoU) on the adaptation of the new €50 banknote was signed by banknote equipment manufacturers and partners.

Mr. Eric Chappuis, Product Manager at SCAN COIN, a leading supplier of cash management solutions, software and services, was directly involved in signing the MoU on behalf of the Group. By signing the MoU SCAN COIN, together with SUZOHAPP and COMESTERO, ensure that their cash systems and solutions are ready to accept the new banknote when it is brought into circulation and make the maximal effort to help their clients in this process.

“We have cooperated together with ECB for many years and have been involved in the process of the new Euros banknotes for a number of years. Our mission is to add value to our customers' businesses by creating solutions that enable them to process cash efficiently, not the least when new notes are entering into the market” explains Eric Chappuis. “We provide our customers with software and hardware updates to make sure they are ready when the new €50 banknote is entering the market in 2017” concludes Mr. Chappuis.

Ton Roos, Director Banknotes at the ECB, also explains the importance of preparing for the new note: “We – the Eurosystem and our industry partners – have started to prepare for the introduction of the new €50 note early on, to ensure businesses are ready so that people can use their new banknotes smoothly everywhere as of the day they enter into circulation”,

The €50 banknote is according to ECB the most used banknote of all the denominations with more than 8 billion in circulation (45 % of the total). The new note is planned to be brought into circulation by spring 2017.