Credit Card News Credit Card Users Warm To Chip And Pin 15014917

Credit card users warm to chip and pin

03 August 2005
New research has revealed that chip and pin users now account for 84 per cent of all client-present transactions made on debit and credit cards.

According to chip and pin’s spokeswoman, Sandra Quinn, 221 million chip and pin transactions took place in June, 2005, an increase of more than 100 million from last December.

By the end of June, in excess of 107 million chip and pin cards had been issued, while 90 per cent of card holders, nearly 40 million, possessed at least one chip and pin card.

Ms Quinn said: “During our conversations with retailers we’re also getting reports of reduced queue times at checkouts as people enter their pins more quickly than signing.

“This is something we noticed during the public trial in Northampton two years ago.

“It’s a clear sign that by and large consumers are finding chip and pin not only safer but quicker and easier than signing.”

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Written by Editorial Team