Archive - Tuesday, 11 October 2005


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Chips for all

RETAILERS can decline payments by credit and debit cards from Valentine's Day next year if holders do not know their four-digit pin number.

From February 14 consumers with the new-style chip and pin cards will have to use their pin to verify a purchase, and may not have the option of signing a receipt instead.

The Chip and Pin Programme said the introduction of the cards had helped reduce fraud on lost, stolen and counterfeit cards by nearly a third during the first six months of 2005 to £89.9m.




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