IT is not yet clear if the Bank of Jamaica (BOJ) will switch local currency to plastic notes.

But the industry is moving towards polymer banknotes, according to Matt West, Caribbean regional manager of De La Rue, which prints the Jamaican dollar and which made the proposal to the central bank.

Polymer, or plastic, uses a more durable substrate which makes the notes last longer than the cotton material.

“It offers return on investments because they last three times as long as the cotton notes, but is two times as expensive,” said West.

Canada, Australia and Mexico are among the 35 countries that use plastic notes.

The Daily Mail recently reported that residents swear the new CND$100 bill smells like maple syrup.

“They all have a scent which I’d say smells like maple? Please advise if this is normal?’ wrote one concerned citizen,” reported the Daily Mail.

Nigeria was displeased with the plastic note it put into circulation.

A Nigerian newspaper, Premium Times, reported that the country’s Central Bank Deputy Governor said the bank is phasing out the polymer notes because they fade out easily.

“However, with the benefit of hindsight, we probably should not have adopted polymer because, yes, the substrate lasts longer, but the in-consubstrate began to fade; we didn’t realise that at the time of introduction,” said Tunde Lemo, the deputy governor, the newspaper reported.

Other features that make bank notes more durable and that Jamaica has applied are varnished cotton substrate. This is found on the $1,000, $500 and $50 notes, made by De La Rue.

Varnishing creates a moisture-proof layer to protect the banknotes against surface soiling and reduces the extent to which they will absorb moisture, contaminant particles and micro-organisms, said the BOJ.

The $100 banknote, the most widely used note, is printed on a material known as Hybrid, a combination of protective polyester film layered around a cotton fibre core and is produced by a German company.

The $5,000 denomination, however, continues to be printed on regular cotton substrate, as its main security thread is only compatible with the cotton-based material.

The stronger notes were put in circulation last year and the BOJ said it expects to realise substantial savings as the notes will remain in circulation for longer periods, thereby reducing the number of new notes required to refresh the circulation stock.

Technology has also fuelled a cashless phenomenon in some countries, but De La Rue isn’t daunted by that.

“E-payment is replacing cheque payment, but cash payment is for lower value transactions and is widely used and we are seeing moderate growth in all the countries we work with,” Euling told the Business Observer. “We are not seeing it declining, we are seeing more notes in circulation because automation is driving cleaner notes and the need for cleaner notes.”

The company is also in the business of bulk cash handling, cash processing solutions, holographic and identity systems. De La Rue works with governments and private companies.

De La Rue spends £10 billion a year in research and development to fight counterfeiting.

But the company said there’s a low incidence of counterfeiting in Jamaica and the Caribbean, as forgers target bigger currencies such as the British pound sterling.

“It’s hard work staying ahead of the counterfeiter. What we will do at the centre (which will open this year) is develop technology for banknotes that will help us to keep ahead of the technology that fraudsters use,” said Ruth Euling, sales director at De La Rue.

All banknotes contain three levels of security features; the first level is around public recognition, things that people can see easily such as the watermark. Level two is for use in the banks where an ultra-violet feature that you can’t see in daylight is applied, and level three is a feature used by the central banks.

The UK-based printer, which has been in business for 200 years, has worked with Jamaica for a century and half, making the country’s passports and postage stamps.