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A WORLD OF POLYMER BANKNOTES

ESTABLISHED 5/02/2001

History - A brief history of polymer banknotes

Though the polymer banknote has been recently adopted in some of the most important countries, its history is not that recent. The story begins about 30 years ago and is still being written through the many researches on going for which the main subject is represented by these banknotes. They have been evaluated as the most efficient type of banknote invented so far due to the revolutionary techniques used.

A fascinating history

Some similar banknotes have been used before but the official country that invented the polymer banknote is Australia and the event happened back in 1988. They are the first country to move to plastic banknote that can be painted and secured in a unique way so that no one could duplicate them. Fraud related to money counterfeit has been considerably reduced with these banknotes. The technology used for this type of money is the optically variable devices applied on a plastic film.

Surprisingly, the polymer banknote has not been spread quickly after its appearance. The most important countries have moved to it after about 20 years. Among the first countries that adopted it we could mention Thailand, Malaysia, and New Zealand. Eastern Europe was the next to adopt it, and later, the polymer banknotes have been spread all over the West Europe. Recently, Canada has decided to replace the paper notes with the plastic ones and it was followed shortly by Chile. And the journey is not finished as there are still countries that have not yet adopted it.

The polymer banknote has known a worldwide development even if its beginnings were not that easy. Over the years, the polymer banknote has been improved so that it meets all the security requirements so important for all of us. This improvement is still making many countries considering the movement to plastic money. Therefore we expect to have the polymer banknote everywhere around the world in a few years.