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Chip & PIN easier for elders

28 June 2004
Older generations are streets are ahead of younger consumers when it comes to understanding the introduction of Chip & PIN.

This is according to new research from Lloyds TSB, which has found that nearly two-thirds (61 per cent) of Brits aged 55 and above are aware of and understand the new technology.

This compares with just half (50 per cent) of those people aged between 25 and 34, who still appear to be getting to grips with fighting card fraudsters.

Additionally, senior citizens are also highly enthusiastic about the new system, with nearly 80 per cent rating Chip & PIN as an "excellent" or "good" idea.

The operations director at Lloyds TSB Scotland, Ronnie Munro, said: "This explodes the myth that grannies and granddads are flummoxed by modern technology and are swimming against the technological tide."

Mr Munro added: "Younger people could do a lot worse than follow the trail being blazed by their elders."

This positive attitude is also reflected when it comes to looking at who has been affected by card fraud. Over 55s are the least likely to have fallen victim to criminals, with just one in ten (11 per cent) saying they had been the victim of such crime.

Furthermore, the older generation appears to be conscious of the need to keep their cards safe. Only a quarter (27 per cent) had ever lost a credit or debit card.

Mr Munro also added a few words championing the fraudster-beating appeal of the new technology: "Chip & PIN is a particularly potent weapon in the war on card fraud and the sooner everyone, whatever their age, is comfortable using it - the better."

The new Chip & PIN is currently being rolled-out in shops across the country.