Resources
See latest resources ยป
Checking out chip and PIN

Checking out chip and PIN

Source:

This report into the UK's chip and PIN trial looks at how this card fraud-busting scheme worked in action in a three-month trial in Northampton for customers, retailers, banks, card companies and technology suppliers.

The UK's Chip and PIN programme will see magnetic stripes on credit and debit cards replaced with a smart chip, and by 2005 the majority of plastic card transactions will be verified by cardholders keying in a secret four-digit PIN (Personal Identification Number) rather than signing a receipt.

Published by the Association for Payment Clearing Services, the British Retail Consortium and the Chip and PIN Programme Management Organisation, the report declares the three-month long town trial a success. By the end of the trial over 200,000 chip and PIN credit and debit cards had been issued and around 1,000 outlets, including shops, restaurants, pubs, hotels and petrol stations had taken part.

Each area of the report looks at the experience of different groups of participants involved in the trial - customers, retailers bank, card companies and technology suppliers - and the lessons learnt for the national rollout.

Download the document now 666Kb PDF

Comments: (0)

Research resources
See all Research resources »
Payments Modernisation: Interoperability fuels the transformation of Cross-Border Payments
/research

Payments Modernisation: Interoperability fuels the transformation of Cross-Border Payments

Correspondent banking as we view and use it today is the result of a slow and natural evolution.

On-Demand Webinar - The Art and Science of Customer Relationships
/research

On-Demand Webinar - The Art and Science of Customer Relationships

Accurately quantifying customer experience can seem an immensely nebulous task. While the benefits of improving this are evident, there is no clear method of measuring it.

Central Bank Digital Currency and Monetary Policy
/research

Central Bank Digital Currency and Monetary Policy

A Bank of Canada investigation into the benefits and costs of issuing a central bank digital currency for monetary policy.