Japan’s new banknotes cause trouble for small businesses

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Japan began circulating its first new banknotes in 20 years on July 3, 2024. The nation’s existing bills will remain in use, but businesses that accept cash have been told to upgrade their payment machines. The change is not expected to have a major impact on most big operators such as ATMs providers and train-ticket vendors, but the high cost of new machines has been a headache for many small businesses.

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[redaabualsaud]

To be honest, Japan announced the change almost two years in advance. Most countries will announce such changes only months before implementation.

[Pbdave]

Imagine all those vending machines..., lol

[engineerbeta]

I finally realized why casinos use chips instead of cold hard cash (apart from the really obvious reason)
If there is a new currency that'll be over hundreds of machines being updated

[bpcgos]

Its understandable, even their bus have this coin changing machine that will accept any amount you pay and still give you the exact change. Upgrading all of them to accept the new bill will be pretty much grandiose effort

[Garthgoyle]

Yes, yes. As it is usual in Japan, people don't wanna update. Reminds me of when Microsoft finished their updates for XP, some municipalities opted for disconnecting computers from the Internet because they didn't want to transition to the newer Windows.

[KarunaMurti]

New 500 円 coin from 3 years ago still create problem all over Japan, even in big stations.

[immyownperson]

Bill changes are so annoying, our coutry went through them way too often and using machines was a total headache as well as determining if the one you were holding was fake since the rules gwt too confusing as consequence of the too frequent changes

[RohitKulan]

The new banknotes look like a mix of ancient and modern, similar to Japan itself.

[JasonB]

How much you want to bet a bunch of Japan politicians invested heavily in meal ticket vending machine companies before releasing the new bills that require new ticket machines. 😒

[jjperceval]

meanwhile in australia... the government owned machines couldnt even handle new notes when they rolled out

[hichamlyaacoubi]

Only the part that reads the bills need to be hot swappable, changing the whole machine is ridiculous

[alexanderx]

For a country that innovates, Japan surely is reluctant to change.

[zevil]

cash use is rampant in Japan because they dont have to report the correct income for tax purposes

[annatsukiya]

Yeah. I never thought the effect of new bills on those vending machine. 😅

[Mrshoujo]

All they need to update is the bill acceptor, not the whole machine.

[LSnium]

As someone who prefers cash over digital currency, I also think business owners prefer cash, so they are gonna have to figure out the machines.

[lkszmgrzk]

All of those machines could have been upgraded to nfc payment years ago anyways, so now they have the chance to upgrade both at once.

[linkinla]

People are afraid of change too. I saw a video on some small European country that recently ditched their paper chip looking coins because the older generations refused to use them. It was supposed to be lightweight compared to coins but more durable than paper money.

[jonpaul]

No need for the banknote update, Japan. You just need to dump us bonds often😂

[fenri]

I'm really surprised that the hardware for accepting credit cards would be MORE expensive than the cash hardware upgrade. I wonder if they have some kind of high processing fees or something on stuff like that.