A cash intensive industry

Coins and notes are the main form of payment in vending machines worldwide. It is essential therefore that both coins and notes are validated securely and consistently. The WVA works together with currency issuers so that they understand and take the concerns of vending on board. 

Currency Matters

Vending would not exist without cash, as coins and notes are still predominant in vending machines worldwide.
Whilst in the USA payment can be made both with notes and coins, in Europe vending machines mainly accept coins.

Coinage

The objective of the WVA in this area is to ensure that the vending industry’s interests and concerns are well understood by and taken on board by the Global Minting Community and its suppliers (e.g. blank manufacturers).

To this end, the WVA participates actively in the Mint Directors Conference (MDC), a worldwide forum of the Minting Industry.  In addition to its participation in the biennial conference, where the WVA has been presenting papers at every event since 2000, it is also a member of the MDC Technical Committee (MDC-TC).

In the TC, the WVA convenes two Sub-Committees which bring together Mints, validation industry representatives and blank manufacturers:

• the “Optimised Validation Sub-Committee”
• the “Checklist of new coin design and introduction Sub-Committee”

The WVA further sits in on Sub-Committees dealing with coinage materials (copper and non-copper), counterfeiting and the future of payment.

Banknotes

The WVA is in regular contact with the Central Bank Cash Machine Group (CBCMG), a forum that brings together the European Central Bank, the Central Banks of Australia, Canada, Mexico and the United Kingdom, as well as the Bureau of Engraving and Printing of the United States of America.

On this platform, the WVA promotes secure and consistent banknote validation by highlighting the vending industry’s concerns and needs in terms of banknote design, quality and acceptance. The end objective is to improve validation thanks to improved mutual knowledge and understanding.