Japan’s new banknotes force small business to upgrade payment machines

Japan began circulating its first new banknotes in 20 years on July 3, 2024. The nation’s existing bills will remain in use, but businesses that accept cash have been told to upgrade their payment machines. The change is not expected to have a major impact on most big operators such as ATMs providers and train-ticket vendors, but the high cost of new machines has been a headache for many small businesses.