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Signature vs PIN

10 November 2005  |  3133 views  |  0 Source: Victor Lubasi, Federal Reserve Bank of Chicago cards retailer with card

Victor Lubasi, senior analyst at the Federal Reserve Bank of Chicago, explores costs and benefits of two types of debit card authorisation methods - signature and PIN (personal identification number) - for merchants, consumers, and financial institutions.

The article considers competition between signature - and PIN-based debit cards in the United States and looks at Canada’s predominant usage of PIN-based debit cards.

While the UK banking industry has spent vast sums on converting to Chip and PIN based authentication at the point-of-sale, Lubasi concludes that differences in payment fraud risk associated with PIN-based and signature-based debit cards are less significant than often suggested.» Download the document now 48.8 kb (Adobe Acrobat Document)

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