News 80% of Japan's vending machines don't accept new banknotes

[thomas]

For the first time in 20 years, Japan has introduced new banknotes to combat counterfeiting. However, these notes might not be accepted everywhere immediately. The Japan Vending Machine Manufacturers Association noted that nearly 80% of vending machines need upgrades to accept the new notes. Many restaurant and parking ticket machines also require updates. Japan's older machines aren't equipped to handle the new notes, which feature advanced security measures like 3D holograms of historical figures that rotate when tilted. Upgrading these machines will require both time and money.

Japan is bracing for rage against the vending machine

Japan still loves cash and vending machines, but new banknotes containing hologram technology won't work in many machines without upgrades.

www.businessinsider.com

Nearly 90% of bank ATMs, train ticket machines and retail cash registers are ready for the new bills. Still, only half of restaurant and parking ticket machines, the Japan Vending Machine Manufacturers Association said. It added that almost 80% of the nation's 2.2 million drink vending machines also need upgrades. "It might take until year-end to respond to this," said Takemori Kawanami, an executive at ticket machine company Elcom. "That's too slow, but we are short of components," he added, as client orders for upgrades exceeded expectations. Many Japanese fast-food restaurants, such as ramen shops and beef bowl stores, use ticket machines to cut labour costs, but some small business owners battling inflation are unhappy with the extra investment needed. "The machine replacement has no sales impact, so it's only negative for us, on top of rising costs of labour and ingredients," said Shintaro Sekiguchi, who spent about 600,000 yen for ticket machines at three ramen shops he runs in Tokyo.

https://www.reuters.com/markets/currencies/japans-first-new-banknotes-20-years-use-holograms-defeat-counterfeits-2024-07-03/

I have noticed that many vending machines do not accept the new 500-yen coins, either.

 

[salyavin]

What I heard in another group is that the government does not subsidise upgrading the machines to accept new currency so the cost is on the owner of the machine. That is implied above as well by that ramen shop owner. The changing bills every 20 years puts a significant cost particularly on "mom and pop" shops.

 

[Maciamo]

It would be much simpler if they just accepted credit cards like vending machines in Europe. At least many machines except in the Pasmo or Suica cards.

 

[Hiroyuki Nagashima]

As most vending machines use the coin, the newly-issued bank note does not consist in a problem very much.
A problem did not have it last time either.
Media only make noise in there not being the material of the news.