Japan's 1st new banknotes in 20 years use holograms to defeat counterfeits

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Japan's 1st new banknotes in 20 years use holograms to defeat counterfeits - Business Standard

Quick Summary:

The new 5,000-yen bill portrays educator Umeko Tsuda (1864-1929), who founded one of the first women's universities in Japan, while the 1,000-yen bill features a pioneering medical scientist, Shibasaburo Kitasato (1853-1931).

Japan began circulating its first new banknotes in 20 years on Wednesday, featuring three-dimensional portraits of the founders of financial and female education institutions in an attempt to frustrate counterfeiters.

Although cashless payments in Japan have almost tripled over the past decade to make up 39 per cent of consumer spending in 2023, that share lags global peers and should rise to as high as 80 per cent to improve productivity, the government says.