Move Over Signatures; Chip And Pin Is Here To Stay

Over the past two years, card issuers have been replacing credit
and debit cards in the UK with the ones that include an embedded
chip But from this year, you may find yourself unable to spend
your money, unless you have a chip and pin card
Chip and Pin may sound to any common man like tiny animated
duo, trying to fight off the bad guys But, in reality many
people are less than impressed by this gift of technology
Chip and Pin cards have been introduced in an attempt to stem
the tide of card fraud, which reached £ 252m in the first six
months of 2004 Some 127m chip and pin cards were dispatched by
the end of January 2006 Some 13m cards are yet to be upgraded
and customers without the same would be able to sign
Ironically, these cards are so effective that some people are
unable to spend their own money at retail counters The chip
cards, common in mainland Europe are more secure than the rest
because they carry a computer chip which cannot be easily copied
and requires a personal identification number (pin) to be tapped
rather than a signature, which can be forged
Consumer groups have warned that the introduction of the chip
and pin cards done on the Valentine’s Day was pregnant with
muddle and confusion They have accused high street banks and
card providers of failing to publicize the chip and signature
alternatives for the elderly and the disabled, plus also have
gone to state that some stores are giving out misleading
information about the changes
A spokesperson from Apacs (card payment association) stated that
if people are finding it difficult to use the number they are
sent at random; they can go to a cash vending machine and change
it to the one that is easy for them to remember Apacs has also
warned users not to write down their pin numbers

Tags | cards, common, consumer, groups, identification, issuers, number, numbers, personal, pin, vending