The document discusses several articles about polymer banknotes:
- The BSP will issue a new 1000-peso polymer banknote in April 2022, featuring the Philippine eagle. Polymer notes have benefits over paper like durability and security.
- Some Filipinos criticized rules against folding/crumpling polymer notes as excessive, as paper notes endure such treatment.
- Over 28 countries use polymer banknotes, which are cheaper to produce and last longer than traditional notes. They are also difficult to counterfeit.
- A Jordanian study found plastic currency could impact parallel economies and consumer purchasing behaviors by making unregulated spending easier.
The document discusses several articles about polymer banknotes:
- The BSP will issue a new 1000-peso polymer banknote in April 2022, featuring the Philippine eagle. Polymer notes have benefits over paper like durability and security.
- Some Filipinos criticized rules against folding/crumpling polymer notes as excessive, as paper notes endure such treatment.
- Over 28 countries use polymer banknotes, which are cheaper to produce and last longer than traditional notes. They are also difficult to counterfeit.
- A Jordanian study found plastic currency could impact parallel economies and consumer purchasing behaviors by making unregulated spending easier.
The document discusses several articles about polymer banknotes:
- The BSP will issue a new 1000-peso polymer banknote in April 2022, featuring the Philippine eagle. Polymer notes have benefits over paper like durability and security.
- Some Filipinos criticized rules against folding/crumpling polymer notes as excessive, as paper notes endure such treatment.
- Over 28 countries use polymer banknotes, which are cheaper to produce and last longer than traditional notes. They are also difficult to counterfeit.
- A Jordanian study found plastic currency could impact parallel economies and consumer purchasing behaviors by making unregulated spending easier.
The document discusses several articles about polymer banknotes:
- The BSP will issue a new 1000-peso polymer banknote in April 2022, featuring the Philippine eagle. Polymer notes have benefits over paper like durability and security.
- Some Filipinos criticized rules against folding/crumpling polymer notes as excessive, as paper notes endure such treatment.
- Over 28 countries use polymer banknotes, which are cheaper to produce and last longer than traditional notes. They are also difficult to counterfeit.
- A Jordanian study found plastic currency could impact parallel economies and consumer purchasing behaviors by making unregulated spending easier.
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BSP Statement on the 1000-Piso Polymer Banknote
Name of the author: Philippine Information Agency (PIA)
Date of publication: December 12, 2021 Title of the Sources: BSP Statement on the 1000-Piso Polymer Banknote ( Versions/ Volume): N/A Link: https://pia.gov.ph/press-releases/2021/12/12/bsp-statement-on-the- 1000-piso-polymer-banknote
“The BSP Statement on the 1000-Piso Polymer Banknote” by Philippine
Information Agency (2001). This study examines the 1000-peso polymer currency that is expected to go into circulation in April 2022, according to the Bangko Sentral ng Philippines (BSP). In comparison to paper banknotes, polymer banknotes have been shown to perform better in the promotion of public health and cleanliness, increased security, durability and cost- effectiveness, and environmental sustainability, among other things. The Philippine eagle, a symbol of strength, freedom, and keen vision is featured in the design of the new 1000-piso polymer notes. The rich flora and fauna of the Philippines are highlighted on the first note in a new series of Filipino banknotes. The BSP emphasizes that the image of the new currency that was recently in circulation was actually a sample that had been sent to the BSP for examination. The scientific name of the Philippine eagle has already undergone the necessary modifications, including the spelling and italicization of the name. The Monetary Board and the Office of the President have already given their approval for the new 1000-piso polymer notes to be issued. Due to the huge volume of 1000-peso banknotes in circulation relative to other notes, this denomination was chosen. Despite having the most security features and being the most challenging to counterfeit, it is also the focus of the greatest amount of attempts.
https://www.pna.gov.ph/articles/1176514 Furor Over Polymer Name of the author: Philippine Daily Inquirer Date of publication: July 14, 2022 Title of the Sources: BSP Statement on the 1000-Piso Polymer Banknote ( Versions/ Volume): N/A Link: https://pia.gov.ph/press-releases/2021/12/12/bsp-statement-on-the- 1000-piso-polymer-banknote The Philippine Daily Inquirer (2022) has insisted that "BSP Statement on the 1000-Piso Polymer Banknote" (Version N/A). A disgruntled customer posted on social media that a mall cashier had refused to accept her P1,000 polymer banknote because it was folded and slightly crumpled, allegedly in violation of the Bangko Sentral ng Philippines' proper handling requirements (BSP). Beyond the humor, there are valid and pointed criticisms of the absurd rules on how to handle polymer notes, which the BSP went to great lengths to explain were more durable than the long-used paper notes that have endured despite being crumpled and folded, especially in public transportation and wet markets.
The BSP advised Filipinos not to "excessively fold, crease, or crumple" the banknotes, as doing so could "leave permanent fold marks." Users were also advised not to staple the notes or use rubber bands to keep them together, but instead, use paper bands. The BSP did claim that these polymer banknotes were "tough," but even so, they should still be "valued and handled with care."
Many Filipinos disapproved of the regulations, denouncing them as excessive
given how frequently they spend their cash. The "absurd" recommendation made by the new BSP Governor Felipe Medalla that Filipinos "adapt" to the new polymer banknotes by buying longer wallets did not help the BSP's cause either.
Anti-Counterfeiting for Polymer Banknotes Based on Polymer Substrate
Fingerprinting
Name of the author: Shen Wang, Ehsan Toreini, Feng Hao
Date of publication: March 19, 2021 Title of the Sources: Anti-Counterfeiting for Polymer Banknotes Based on Polymer Substrate Fingerprinting ( Versions/ Volume): N/A Link: https://ieeexplore.ieee.org/document/9381886
According to Shen Wang, Ehsan Toreini, and Feng Hao (2021), "Anti- Counterfeiting for Polymer Banknotes Based on Polymer Substrate Fingerprinting" (Ver. N/A). Over 28 countries around the world, including Brazil, China, Singapore, Canada, Romania, the United Kingdom, and others, have adopted polymer currencies. The most distinctive features of this sort of currency are that it is constructed of polymer material, which is less expensive to produce than banknotes and coins, and that its shelf life is around five times longer than that of regular currency, which is stronger and thinner, i.e., contrary to popular belief, it is not plastic; rather, this name refers to this kind of currency in general. According to Wang et al. (2021), one of the characteristics of polymer currency is that it is challenging to counterfeit and that its market cannot be regulated.
Would Polymer Banknotes (Plastic Money) Influence Customer Intention
to Buy? An Empirical Study from Jordan
Name of the author: Marwan Mohamed Abu
Date of publication: January 15, 2022 Title of the Sources: Would Polymer Banknotes (Plastic Money) Influence Customer Intention to Buy? An Empirical Study from Jordan ( Versions/ Volume): Vol 9 No 2 Link: https://koreascience.kr/article/JAKO202202661454503.pdf
The study "Would Polymer Banknotes (Plastic Money) Influence Customer
Intention to Buy? An Empirical Study from Jordan" (Vol. 9, No. 2), by Marwan Mohamed Abu (2022). Since credit cards and multiple discounts were introduced as an alternative to traditional paper money, people began to recklessly spend and make hasty purchasing decisions. As a result, they failed to evaluate their true needs for a given item and instead made unnecessary buying intentions and indulged in impulsive purchases, such as changing a diaper. It has been demonstrated in the study by Abu (2021) that plastic currency, or polymer currency, will have an impact on the parallel economies of countries, which are the economies that are not included in the state's national income and are not under its management, such as straightforward handicrafts and handmade products and individual self-employment. This impact will be felt by consumers in terms of their intent to buy or the impulsive behavior behind the purchase. The polymer currency will have an effect on this kind of economy because the state won't be able to monitor the movement of currencies and the reasons why people who earn money unconnected to the state or its taxes accept them. As a result, the polymer currency may aid in the abolition of the black market, fake money, and money market regulation. References:
Philippine Information Agency. (2021, December 12). BSP statement on the
1000-piso polymer banknote. Retrieved February 26, 2023, from https://pia.gov.ph/press-releases/2021/12/12/bsp-statement-on-the-1000- piso-polymer-banknote
Philippine Daily Inquirer. (2022, July 14). Furor over polymer. INQUIRER.net. Retrieved February 26, 2023, from https://opinion.inquirer.net/154998/furor- over-polymer
Wang, S., Toreini, E., & Hao, F. (2021). Anti-counterfeiting for polymer banknotes based on polymer substrate fingerprinting. IEEE Transactions on Information Forensics and Security, 16, 2823–2835. https://doi.org/10.1109/TIFS.2021.3067440
Abu, M. M. (2022, January 15). Would polymer banknotes (plastic money)
influence customer intention to ... Retrieved February 26, 2023, from https://koreascience.kr/article/JAKO202202661454503.pdf
