Ever since banks started issuing credit and debit cards they also needed to supply customers with a PIN for cardholder verification purposes. These were for card usage at the ATM or POS terminal. The delivery method chosen was PIN Mailers.
PIN mailers hide the PIN number with scratch-off or peel-back panels that highlights any attemps at tampering. They are generally sent to the cardholders address using the postal service. Sometimes couriers are used to counter mail-in-transit risks.
PIN mailers are used to advise cardholder of the PIN to be used with a new card and for PIN reminders.
It seems that not much has changed in the process used by banks in the last 30 years.
But in the same time period so much else has changed.
- Email is now a daily ritual for a large proportion of the population
- Phones have gone mobile and smart
- Text messaging is replacing calls and even developed its own language
- Online banking is making visits to bank branches a rareity
So I pose the question are there better alternatives now available?
If so what are these?
With customers looking for immediacy and banks always looking to reduce their costs perhaps the time has come for a change.
I look forward to hearing your thoughts and suggestions.