Chip and Pin making credit cards safer

Chip and Pin

What is chip and pin

Instead of using your signature to verify payments, you will be asked to enter a four-digit Personal Identification Number (PIN) known only to you. You might have noticed the special pin input devices appearing at banks, supermarkets or postoffices.

167,000 retailers have now switched to chip and PIN and 1 in 4 card holders now has a chip and pin card.

The UK retail and banking industries have joined forces for a ground-breaking programme called chip and PIN to combat the problem of credit and debit card fraud in the UK.

There are two elements involved in making a plastic card transaction secure. The first is to ensure that the card is genuine; the second that the person presenting the card is the true owner. Chip does the former and PIN does the latter. The chip therefore protects against counterfeit fraud and the PIN against lost and stolen cards and those intercepted in the post.

By 2005 most credit and debit card transactions, where a consumer has been issued with a chip and PIN card and is present during the transaction, will be verified by the consumer keying in a Personal Identification Number (PIN) rather than by signing a paper receipt.

Point-of-sale PIN terminals will be of various shapes and sizes like tills are now. Some PIN terminals will have portable or cordless PIN pads, like those often seen in restaurants in France.

Consumers do not need to take any action themselves as their card companies will get in touch when they are ready to issue the new type of card.

Picture: www.chipandpin.co.uk

Your PIN will never be needed for mail order, telephone, or internet purchases and you should never reveal your PIN in any circumstances.

If you are asked for your PIN online do not give it -

make a note of the site and contact the police

Press releases:
New research shows disabled people welcome chip and PIN
New advertising campaign launches for ‘biggest change since decimalisation’
Londoners get to grips with Chip and PIN (PDF)
Chip and PIN Kicks-Off UK City Shopping Centre Roadshow (PDF)
Politicians pin down card fraud (PDF)
First chip and PIN update shows steady progress (press release 26 Jan 04)
Londoners get to grips with Chip and PIN (PDF)
Fast facts - cards, cash and crime (PDF)
Plans for chip and PIN rollout announced (PDF)
Cash / credit card milestones (PDF)
About Chip and PIN (PDF)
The first step toward national roll-out of chip and PIN (PDF)
Chip and PIN at Scottish Convenience Retailing Show (PDF)
Big high street names switch on to chip and PIN trial (PDF)
Get expert advice about implementing chip and PIN at stand J42 (PDF)
Media Invitation (PDF)
Chip and PIN is coming: retailers need to start planning now! (PDF)
Chip and PIN a major focus at Retail Solutions 2003 (PDF)
Chip and PIN technology (PDF)
Frequently asked questions (PDF)
Glossary of Chip and PIN terms (PDF)
Annual fraud figures reach record high as Chip and PIN introduced (PDF)
UK Chip and PIN Programme - The Key Organisations (PDF)
Banks, Building socities and Retailers join forces for radical fraud-busting programme (PDF)
Chip and PIN Information Video available for retail staff (PDF)
UK Chip and PIN Programme: new press office goes live (PDF)
Choosing the right Chip and PIN solution for your business

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