One in five shoppers shun Chip and PIN - Visa
15 December 2004 | 9972 views | 0
One in five UK Chip and PIN cardholders are still using a signature rather than a PIN number to verify payments, according to research conducted by Visa.
Currently three in five cardholders in the UK have a Chip and PIN card. But the Visa research suggests that 20% of Chip and PIN cardholders in the UK are not using their PIN because they can't remember it.
Alomst a quarter (24%) of respondents said they didn't use their PIN number because retail staff did not encourage them to. Furthermore, the same number said they were not even given the option to enter their PIN, even though they would feel comfortable to do so.
But the research found that five per cent of respondents chose not to use a PIN because they were "nervous" about the new way to pay.
From 1 January 2005, retailers will be liable for fraudulent transactions and can refuse to accept signatures if the customer has a Chip and PIN card.