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Creditcard Information - What is Chip and Pin ?

 

Chip and Pin

 

What is Chip and Pin ?

CONSUMERS
Chip and Pin is a clever system which will foil the fraudsters, and couldn't be easier to use. Instead of signing a paper receipt to verify a card payment, you will be asked to enter a four-digit Personal Identification Number (PIN), just like you do at a cash machine.

Most card holders will now have a chip and PIN card. If you have not yet received your chip and PIN card yet, you don't need to do anything. Chip and PIN cards will continue to be issued throughout 2005, usually when cards reach their expiry dates. You can continue to use non-chip and PIN cards in all outlets, and you will be asked to sign for goods, just as you always have done.

Chip and PIN is the biggest change to the way we pay for many years. It is part of a global programme to tackle the soaring levels of plastic card fraud.

For further information visit the following link: http://www.chipandpin.co.uk

 

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OCIS provide general financial information, we urge you to consult an Independent Financial Adviser ( IFA )
before making any important decisions about your finances.

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