NEW YORK, November 6, 2008 - The use of tangible currency will continue to grow faster than credit and electronic transfer, said Myles Curtis,
managing director of Australia-based Securency International, the world
leader in secure polymer substrate technology. Between the
international credit crisis and the exponential rise of developing
nations that still find cash to be ideal, Curtis believes bank cards
will not replace currency anytime “in the foreseeable future."

Presenting
to a group of international business and currency technology figures at
the Asia Society, Curtis discussed the future of hard currency in the
world and his firm’s recently implemented polymer currency innovation
technology—“plastic money.” Giving guests a preview of Australian and
other currency consisting entirely of synthetic materials, Curtis
explained the numerous advantages his designs have over traditional
paper and coin: revolutionary anti-counterfeit measures such as light
reactive "WinDOEs" and micro-perforations in the notes, easily
recyclable materials, and vastly improved durability that will cut
inspection and reprinting costs dramatically.

Securency already successfully implemented polymer banknotes in Hong Kong,
Singapore, Brunei, and Vietnam, where, Curtis pointed out, the number
of ATMs is increasing at a rapid pace, and is expected to multiply
several times in the next few years.

While Curtis is extremely optimistic about the future of currency in the
information age, he sees the modernizing role that his firm plays to be
absolutely indispensable to the growth of the industry: “Cash continues
to play a significant role in the transaction of value cycle,” he said.
"But it must continue to adapt to remain fit for purpose as the
environment changes.”

Reported by Yoshie Ito, Asia Society New York

Listen to the complete program (59 min.)

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