Abstract: Disclosed herein is a method of validating cash transactions at a cash validation server of a cash transaction validation system. The method comprises capturing a unique identifier of a banknote of a user; storing the unique identifier of the banknote against a user identity of the user in a database connected to the cash validation server; checking the unique identifier of the banknote against the user identity stored in the database when the banknote is received as tender for payment at a receiving Cash Processing Terminal (CPT); requesting an authorization from the user to release the banknote for payment; transmitting an accept banknote message to the receiving CPT when a successful authorization is received and transmitting a decline banknote message to the receiving CPT when a failed authorization is received.

Abstract: Disclosed herein is a currency conversion and banknote suspension and reinstatement system and method. A user terminal captures a banknote monetary value of a banknote belonging to a user. A banknote server detaches the banknote monetary value from the banknote by converting the banknote monetary value to a digital monetary value. The use of the banknote is thereby suspended. A bank server credits a bank account of the user by the banknote monetary value. The banknote server restores the banknote monetary value to the banknote by reverse converting the digital monetary value to the banknote monetary value. The use of the banknote is thereby reinstated. The bank server debits the bank account of the user by the banknote monetary value.

Abstract: A method and system of validating cash transactions which comprises capturing a unique identifier of a banknote, storing the unique identifier against a user identity of a user; and upon receiving the banknote as tender for payment, checking the unique identifier of the banknote against the user identity, requesting an authorization for release of the banknote for payment, and in response to receiving a successful authorization, transmitting an accept banknote message and in response to a failed authorization, transmitting a decline banknote message.