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In a news article that I saw this morning on BBC (Much Clicky Here for Info) there is finally a business movement in the UK to introduce pin and card POS purchasing.
Having experienced this as daily life in Canada I found it far more agreeable a method than the old print and sign method.
It's a move that is directed at preventing cloning fraud and, more importantly, ring or group fraud. But there are downsides to this, as there are with everything.
With the current format in England, there is always the problem that it is relatively easy to copy someone's signature, or in the case of group/ring fraud have your mate who works in a shop take the card as tender if they've managed to steal the card, or in my recent circumstances just clone it.
With the new card, sure it's more difficult to crack a four digit pin, but if someone does manage to elicit a pin then they have access to your POS puchasing power and most likely your to use your card at an ATM as well.
What I would like to know is what mechanism is going to be used. If the pin is held on card then this system is inherently flawed. But if the pin is verified by a contact supplier protocol then there are all of the benefits that this scheme is designed to include, unless there is a power failure, in which case you can watch your ability to spend become seriously impeded by shop staff who have know knowledge of how to use a manual swiper.
Anyway, taking the above into account, how do those of you yet to experience this method of payment feel about it?
For those who use/have used this as routine, how do view this compared to the old signature method and what was the changeover like for you? |
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