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SCAN COIN cooperates on new € 20 banknote with ECB

Press Release
July 2015

On 23 July 2015, a Memorandum of Understanding (MoU) on the adaptation of banknote handling, vending and ticketing machines and authentication devices to the new €20 banknote was signed by the European Central Bank (ECB) and its Partners, such as European industry associations and the most relevant banknote equipment manufacturers. Mr. Colombo Fasano, CEO & Group Managing Director of SCAN COIN, a leading supplier of cash management advanced technologies, was directly involved in signing the MoU on behalf of the Group.

The MoU aims to ensure banknote handling equipment across the euro area is ready to accept the new €20 banknote by 25 November 2015, the day the new note enters into circulation.Yves Mersch, member of the ECB’s Executive Board said: “The ECB, the national central banks and our industry partners all have their own role to play in preparing for the introduction of the new banknotes. The MoU that we signed together today underlines our shared commitment and responsibility to ensure that citizens across the euro area can use their new €20 banknotes smoothly everywhere as of 25 November.”

SCAN COIN, together with SUZOHAPP and COMESTERO, commits to providing its customers with the necessary software and hardware updates, so giving them sufficient time to upgrade their machines and devices.

“It is essential to be ready for this event, even more so when taking into account that the €20 banknote is one of the most used of the euro banknote denominations. So we recommend to all operators to update their banknote handling machines and devices to be able to accept the new €20 banknote by 25 November 2015” stated Mr. Marcel Oelen, SUZOHAPP EMEA Managing Director.

On 24 February 2015, ECB President presented the new €20 note, part of the Europa series, which further improves the resistance and the integrity of euro banknotes with added security to keep ahead of potential counterfeiters. On 25 November 2015, the new €20 note will be launched.

The Memorandum of Understanding (MoU) can be

downloaded here.