Bog Roll ::

It's Not Magic, It's Work!

19 Jul 2004

Chip and PIN

Today for the first time in over a decade a shop asked me to type my PIN into a keypad instead of asking me to sign a piece of paper. When I was a student a few shops in Leeds were trailing card+PIN purchasing, but it never caught on. Now, more than a decade later, and a few billions of fraud later the UK banking industry is again trying PINs rather than signatures for card transactions.

While it's not the panacea for all the banks problems, it has significantly reduced fraud in France where an embedded chip in the card, combined with a PIN has been common for many years.

The UK banks are now hoping that it will help here too. However, given that the fastest growing problem is now the CHNP type, I somehow fail to see how a chip in my card is going to help...