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