New pound coin will cause a number of problems in Britain
Most UK retailers are ready to transition to the new 12-sided coins 1 pound, but the British can still be problems when paying for Parking or a train ticket, writes CNN Money.
Coin comes into circulation on Tuesday, March 28. Shops, banks and operators of vending machines were warned about it over three years.
Major grocery chains such as Tesco, has upgraded its self-service system. Sainsbury’s, another supermarket chain, said its cash and shopping carts ready for new coins.
New coins have prepared the London underground, its leadership spent about 250 thousand pounds sterling ($315 million) for the modernization of more than 1 thousand ticket machines.
But those who try to buy a ticket on a suburban train in London not be able to do it. According to the representative of the press service of the railway, the London Overground network still have 49 items that needed to be replaced before they can accept the new coins.
New coins also do not take a car, so drivers have to keep the old coins 1 pound.
At least one of the eight Parking machines will encounter difficulties when issuing delivery drivers as to its mechanism have a problem with sorting the new coins, according to the British Parking Association. According to estimates by industry groups, the cost of updating these machines will be about 50 million pounds ($63 million).
There is a probability that a new coin of 1 pound can promote to cashless payments, but there is reason to believe that a significant number of users do not trust new technologies, such as apps for telenovely Reynoldsville policy and public Affairs, British Parking Association
From a number of vending machines and photobook in Britain can also cause problems. About 75 thousand cars still need to be updated, so they can accept the new coin, according to the Association of automatic vending.
The Royal mint announced in early 2014 that will introduce a new coin with security features that will help to eradicate fraud and counterfeiting currency. More than 2.5% of all old coins are in denominations of 1 pound (approximately 1 coin out of 40) are fakes.
While the major retailers have to make some effort, it will cause a headache for small shops. Banks advise them to sort out the old coins from the new, before you put money into the account.
We are not particularly happy about this, because we want to serve customers, not counting monetises Noisereduction Association centers
The new coin made of two metals: an outer ring of Nickel-brass and the inner ring of Nickel alloy. The old coins will cease to accept payments in October. But banks will continue to take them after that.