Chip and pin revolutionising credit card transactions

Friday, January 13, 2006

With only four weeks left until the chip and pin deadline, the programme behind the conversion has revealed that 99 per cent of debit and credit card users now have the technology.

The measure to help prevent fraud will become the standard as of February 14th but the British Retail Consortium (BRC) is reminding retailers that this does not mean it is the only way payment with a debit or credit card should be accepted.

"Both on the run up to, and even after February 14th, cards that have yet to be upgraded, cards from overseas and chip and signature cards for disabled cardholders should always be accepted," said Paul Smith from the BRC.

"If any customer with a signature-only card has an issue they should urge the member of staff to insert the card into the terminal and follow the prompts. The machine will automatically request a signature."

The Chip and Pin Programme revealed that by the end of 2005, 80 per cent of businesses had upgraded their point-of-sale technology for debit and credit card transactions to incorporate a chip and pin machine.

Find credit card offers here:
http://www.europinions-finance.co.uk/credit-cards/credit-cards/