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04 April 2016

Countdown to launch of new £1 coin

HM Treasury and The Royal Mint have announced details of how the new £1 coin will be introduced into circulation. The new coin will be introduced in March 2017 and there will be a six-month period of co-circulation, during which the current and new £1 coins will both be in circulation.

As part of its Industry Readiness Working Group, the BPA is working closely with The Royal Mint to communicate any related issues faced by the parking profession.

Some machine manufacturers will need to start upgrading customers' equipment with immediate effect if they are to complete in time for launch in March 2017. It is recommended that December and the first half of January should be avoided as times for carrying out any upgrades, as the parking and retail industries are at their busiest during those periods.

You can read the press-release issued by HM Treasury and The Royal Mint here.

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