Japan’s new banknotes cause trouble for small businesses 

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

Imagine all those vending machines..., lol

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

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

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

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.

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

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

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

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

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

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

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

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.

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.

I remember my family using these ticket machines at a bathhouse in Kyoto. We had no idea how to use the manual ticket machine that took cash only.

for country which have so many vending machine, its def nightmarish to adjust both old and new notes ASAP

Didn't know Japan has its own monopoly hat dude.

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

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.

From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

They should have set up a grant program a year ahead to update payment machines for those who apply before rolling out. That will give local businessed some relieve and a year to pay for say 50% of update cost. Here in america local towns have set amount of grants to spend on local businesses and infurstructors, i think japan have the same am not sure.

The new design issue on the currency is really boom market for Automatic Seller Machine/ Vending Machine Provider because they will receive a lot of upgrade order and even order for new machine.

They should force the update so quickly give people time to do it

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.

I don't get the obession with going to a cashless society - cash is so handy.

Does that mean that Japanese have been using the exact same bills for 20 years? I mean, no reprint and such? If so, Japanese people are truly neat & meticulous in taking care of everything.

I wouldn't be surprised if the Japanese government helps out or allows incentives for small businesses.

A couple years back they introduced new 500 yen coins and businesses made the same complaint. By today almost all machines accept the new coins. It's not a big deal. It's hardly even news, honestly. Also, I use cash for 99.9% of my transactions in Japan. Using methods like digital payment and credit card, it is simply too easy to let your expenditures get ahead of you. It's too easy to spend. Dwindling cash reserves lets you more accurately feel how much you are actually spending. I will continue to use cash even if the government tries to push digitalization.

whats stopping them from using qr codes to show the menu and then ordering .

I cant believe they never accounted for that

So they issued huge amounts of cash to the public and after that they say use less cash... logic

The music is loudly annoying.

You just need to update the vending machine once in 20 years, I think it's not that a very big trouble. And vending machine owners don't have any choice though but to upgrade their machine.

A country with earthquakes,real money is better than electronic payments

It's just unbelievable that after so many years, these have not incorporated card payment in all those machines. I don't think I ever saw a single ramen shop machine that takes card

Why the ticket machines don't just accept credit card or mobile payment?

It's like a new hundred dollar bill, yes 10k yen bill is normal and is not a sign of inflation in japan

Now just fix the banking system, so that people don't actually have to use cash for daily transactions due to exorbitant fees on card payments, and we'll be chilling.

What does it mean by "sending out".. Obviously they aren't giving it away for free. So that means they are just exchanging it for old notes, which should have no impact on the economy since the total amount remains the same.

then scrap the ticket machine if upgrading is too much, just have people order over counter anyways

Feels like this part of the effect of new notes is intentional, just to give an extra incentive to digitalise or risk some potentially missed businesses for half a year or more.

Y'know...This just made me realise we're also facing the same challenge in the UK today, too. Our last banknote update was in 2016-2020 (New polymer £5, £10 & £20 notes) but because we're a Sovereign nation and have the Head of State on ours, we now have two versions of each note design in circulation - One featuring HLM Elizabeth II, and one featuring HM Charles III. 👑 Unless machines ignore the Sovereign completely (Which might not be OK under British principles, even for technological reasons! 😉) they have to be re-programmed to accept the Charles notes alongside the Elizabeth ones (Both are equally valid/legitimate) and with many I've spoken to saying the new Charles notes are rather hard to recognise as legitimate currency, this must be causing all sorts of headaches! 💷🤯💷

that one japanese Monopoly dude with the hat

How is it simply not an update to the software? Surely there is a hacky way around this that'd cost nothing but an open source piece of software.

Always keep cash alive

Why are the bills so large? Like it takes two people to hold one bill up?! Of course this would cause trouble.

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. 😒

there should be a picture of the American President🗿

I don't understand why this problem exists. Mexico is a country with a similar amount of people that is also a VERY cash-based society. The Bank of Mexico, however, updates the design of banknotes every 5 years or so, and yearly introduces new commemorative coins for practically anything (the 100th anniversary of XYZ, the works of ABC author, etc.) without this problem with machines showing up. Sure, some businesses have to wait in line to be upgraded, but nowhere near to the scale that Japan is facing according to this video. Didn't the central bank give time to manufacturers of scanners and readers to adjust before the new money is circulated? Or better yet, why don't the central bank and manufacturers ally to make the scanners that recognize only certain safety features that can remain the same in all versions of a banknote or coin regardless of design upgrades?

who's actually complaining that they can't use a bill worth £50 in a venting machine?

The money that exists remains in circulation so idk why anyone feels pressure to “Upgrade” to the newly design currency. At the end of the day ¥10,000 is ¥10,000.

Japan recently ordered the discontinued use of floppy disks to finally put them into obsolescence. This new currency injection sounds like a lobbied cash grab from the ticket machine makers that forced obsolescence for many business owners, yet they themselves weren’t even prepared to produce enough replacements…

I'm more interested about how they've used war-time personality to represented in new notes, just shows how Japan don't want to change from pre-1945.

What does it mean the portraits appear to be 3D? They look the same as any portrait I’ve seen on any banknote. They look like a 2D drawing of a 3D person.

"impossible to counterfeit" heard that one before. they'll be fake ones in a few months

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

Maybe it's a wakeup call that if they were accepting cards instead all they would need is a software update from time to time.

Why bother with new designs? Who is counterfeiting Japanese Yen? Just wait a few more years and let business slowly upgrade to system with cashless ability

The yen is as bad as the peso used to be. They need to divide the yen by 1000 and dump the useless zeros.

i really like the bg music haha

Governments like digital-only because it makes it easier for them to tax. And sometimes steal the Bank savings from someone due to a new law or patriotic need. So as a consumer you shouldn't have 100% of your savings as a digital account. Having a fraction as physical cash and some other goods like a house, car, gold and silver is wise.

The inconvenience is the point. Why replace the machine when you can buy digital card reader for cashless payment for $100

I wonder why an technologically advanced country such as Japan still insists on cash rather than electronical payment. Maybe because Japan has a lot of boomers (born between 1945~ late 1950's) who took part in the liberal student movements during the late 1960's. Those people, now being a senior in their 60's and 70's, seem to have a negative view about the government controlling the monetary flow through digital currency (such as the case in China) and may prefer the usage of cash. These seniors are important voters for the local politicians, so this could be a reason why Japan still prefers the old-school method 🙄.

Tell me this doesn't have the lustre of the Scheckinotes?

I’m surprised Japan uses paper cash as much as they do, surely this kind of change would push more electronic payments methods instead

これで設備投資できない店舗のキャッシュレスが進むな。万歳

So if Japan has a big huge press release for injecting $10 B into their economy, Imagine the press release the U.S.A. should have 😂😂

Imagine the notes had a little QR code on it the vendor could scan and it updated the block chain so the government knew which lawful vendor had it last and where it ended up 😂

Small businesses just mad the public didn’t pay all the costs for the updates to their POS machines, because somehow the act of accepting legal tender isn’t a cost of doing business 🤷🏻💴

When economy struggles Just print more money 😂

Is time to intro cashless payment.. never thought Malaysia could be highest e-payment user per 1000 people

very, very, bad upgrade. First time that I am disappointed with Japanese govt. They should just make metal coins with chips, and make purchases only available with those metal coins. Or at least make credit card for purchases on vending machines- similar to the ones used for payphone.

A chashless society is such an idiotic idea.

Just one engineering student needs to build a new to old changing machine thats cheaper than the new ticket machine

Japan today is not like the Japan of the past. In the past, when we or other countries thought about Japan, it was always seen as a modern city with advanced technology. Nowadays, they are the ones who have fallen behind.

We have QR payment in a lot of vending machines here. They just restock the items and don't to worry about the cash. I didn't know that Japan was so slow about these things. May be it's time to go digital instead of upgrading the cash receivers.

There must be a time to exchange before the replacement right, still have much time 👌🏻

This will work out fine for Japan! I hope their economy thrives from it!! I love Japan!

I have the previous yen and I'm at my home country now. Will the previous yen still be accepted by my local banks when I wanna change to my home country currency I wonder....

0:32 this is alarming ⚠️ 🚨 *_"Even as progress continues towards a cashless society"_*

Cash use is still very practical, but I'm surprised an advanced country like Japan has not adopted a widespread use of cashless payments in addition to cash. Also, the new bank notes are still made of paper, and not polymer? Really baffles me.

This is a side note. Government offers the subsidy to buy new machines and some machines can be fixed by only software upgrade.

I hope this pushes japan to be more card/digital friendly, too much reliance on cash, but I know they won't they've been stagnating a lot of many areas.

Imagine the size of the wallet to carry those notes from the beginning of the video!

Wonder if it's related to their economy dropping recently.

Its time they make it digital payment now

Just use contactless payments and pay the commission why physical cash

the switch is huge but I’m sure everyone will get use to it in time . Japan is just a super fast pace country .

Those vending machines also had headache

business idea, offer existing businesses a change machine that can accept the new bills, charge the businesses a monthly fee to rent the machines

It is finally time for Japan to start to use QR-Code payments!

Economic stimulus hits different in Japow!

A country known for its robots but still largely using cash instead of digital currency.

Looks like ill wait for a while in a trip to japan for the vending machines to get updates on the new banknotes

Imagine when they discover they can use credit cards. It will blow their minds!

the old ones look way better

Considering japan use these machines for payment and stuff, it surely a problem to introduce new type of money Unlike majority of undeveloped country, they still use traditional way to count the money So it's fine to introduce new one, even every 5 year or so 😏

For a business I don't think $4000 USD would be too hard to shoulder... in the worst case, they could hire someone to accept bills, or get another line of credit.

no need change the whole ticket machine, just fix or update the money input system