High-tech cash: Japan launches banknotes with hologram portraits

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Japan News

Bank Notes

TOKYO, July 3 — Japan began circulating its first new banknotes in 20 years today, featuring three-dimensional portraits of the founders of financial and female education...

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“Faces of those representing Japan’s capitalism, women’s empowerment and technology innovation are on the new bills,” Prime Minister Fumio Kishida said at a function. The new 5,000-yen bill portrays educator Umeko Tsuda , who founded one of the first women’s universities in Japan, while the 1,000-yen bill features a pioneering medical scientist, Shibasaburo Kitasato .Currency authorities plan to print about 7.5 billion newly-designed bills by the end of the current fiscal year. They will add to the 18.5 billion banknotes worth 125 trillion yen already in circulation as of December 2023.

Cashless payments in Japan have almost tripled over the past decade to make up 39 per cent of consumer spending in 2023, but still lag global peers and should rise to 80 per cent to boost productivity, the government says.

 

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