Walt Disney Co., having found success with its wearable MagicBand payment system, is retiring the paper "Disney Dollars" it has long accepted from parkgoers.

According to a report in WDW, a news site that covers Disney, the theme parks will stop printing paper notes on Saturday, May 14. The faux money can still be used at Disney parks and stores, since the bills have no expiration date.

The park is retiring the internal money because of the rise of gift cards and the general decline of paper money, according to WDW. Disney introduced Disney Dollars in 1987 and the notes, which have Disney characters on the front and iconic images such as Cinderella's Castle on the back, have acted as a form of gift certificate and collectable.

Disney is increasingly relying on new technology to enable transactions inside their facilities. More than half of the parks' guests use Disney's Magic Band, a wearable payments device that serves as a park ticket and hotel key. Like Disney Dollars, the Magic Band also serves a branding function, with parkgoers able to decorate it with plastic depictions of characters.

Disney did not return a request for comment by deadline.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry