Denmark is one of the more progressive nations regarding how financial transactions are conducted. Smart cards and other means of electronic transfers are popular even for small transactions, which in turn has resulted in a significant decline in the demand for coins in circulation.
Denmark was the second country in Europe (The Netherlands was the first.) to introduce smart card technology for a nationwide travel card. The travel card is to be used as a universal instrument for paying for travel on buses, metro services, and railways nationwide.
This declining demand for coins has recently resulted in a merger of coin and bank note production within the headquarters of the Dansmarks Nationalbank or central bank of Denmark. Responsibility for the distribution of coins has been given to the bank’s cashier department, which was already handling the distribution of bank notes.
Read more: Denmark Merges Coin, Bank Note Facilities
No comments:
Post a Comment