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Twenty years of the Euro: A quick look back and forward

WHY WAS THE EURO INTRODUCED?

Earlier this year the Euro celebrated it's twentieth birthday. Introduced to unite the European countries and its people, the Euro has had a huge effect on our everyday lives. But what do we know about the cash inside our wallets?

Twenty years ago, twelve countries came together to introduce the Euro. A new monetary system that would connect the European people, and that would simplify and promote the ability to perform international trades, travel, work and studies. Today the Euro has been adopted by nineteen countries as their main currency, and is being used by more than 340 million people world-wide. Making it the second most important currency in the world, next to the United States Dollar.

HOW MUCH CASH IS IN CIRCULATION?

Even though cashless payments saw a significant growth due the pandemic, numbers show that cash is still very important and present in the market. In August of 2021 the European Central Bank estimated that there were more than 27.4 billion Euro banknotes in circulation with a total value of about 1.5 trillion Euros. The most popular note being the €50, with more than 13 billion banknotes in circulation at that time. Besides banknotes there are also around 140 billion coins in circulation with a total value of over 31 billion Euros. Confirming that cash is not disappearing from our lives anytime soon.

WHAT IS NEXT FOR THE EURO?

Introduced to bridge the gap between different countries, the Euro has always focussed on togetherness. Featuring literal bridges on the design of its banknotes to resemble the metaphorical one. Now twenty years and two banknote versions later, the European Central Bank is ready to look ahead. Not only are they considering the development of a digital Euro, but they are currently also researching and opening the debate to the public about a possible third version of banknotes, on which they would have to decide by 2024. What would you prefer? Are you going digital or are you sticking to physical cash?

Consulted source material:
https://www.ecb.europa.eu/euro/html/index.en.html
https://euro-at-20.campaign.europa.eu/index_en
https://euro-at-20.campaign.europa.eu/facts-about-euro_en

1.	Your bank must support the service. If you aren’t sure, ask your bank.
2.	You must have an authentication medium. Maestro payments over the Internet are protected by an authentication medium. Depending on the bank, this may be a card reader, a password, or something else. Contact your bank if you don’t yet have an authentication medium.
3.	You must have received a SecureCode. To make payments over the Internet using your Maestro card, you must have a SecureCode. If you don’t have one, contact your bank.

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2.	If you purchased your item at Safescan.com, go to your order history and click on the “return request” option. Complete the form to submit your request.
3.	If you purchased your Safescan product from one of our authorized dealers, go to “My returns” and fill in the form to submit your request. (You will need your purchase invoice or receipt for this.)
4.	We will contact you by e-mail as quickly as we can with further instructions on how to return your product. These instructions will include your return label and unique RMA return number. Please wait for these instructions before returning your product to us; without both the return label and RMA number, we cannot accept your return.

1.	Go to www.safescan.com and log in to your Safescan account (or create one, if you don’t already have one).
2.	If you purchased your item using your Safescan account, go to your order history and click on the “return request” option. Complete the form to submit your request.
3.	If you purchased your Safescan product from one of our authorized dealers, go to “My RMAs” and fill in the form to submit your request. (You will need your purchase invoice or receipt for this.)
4.	We will contact you by e-mail as quickly as we can with further instructions on how to return your product. These instructions will include your return label and unique RMA return number. Please wait for these instructions before returning your product to us; without both the return label and RMA number, we cannot accept your return.