In 2006, after almost eight years of trials, testing and card roll-outs, chip and pin
became a permanent fixture to pay for your purchases.
Since the official changeover to chip and pin
on February 14 2006, financial institutions have seen levels of card fraud slump and queues shorten at tills, according to reports.
More than 150 Chip and PIN
card transactions are now carried out every second.
From February 14, 2006, consumers with the new-style chip and PIN
cards will have to use their PIN to verify a purchase - and may not be given the option of signing a receipt instead.
From February 14, 2006, consumers with the new-style Chip and Pin
cards will have to use their Pin to verify a purchase, and they may not be given the option of signing a receipt instead.
6m chip and pin
cards have now been issued to 36m-plus customers.
Small retailers may be liable for fraudulent credit card payment in their stores if they do not have Chip and PIN
technology installed by January 1, 2005.
Since the formal roll-out of chip and PIN
in the UK on 14 February, consumers now use their PIN in 99.
Welsh shopkeepers have warned that the move to the chip and PIN
system of card payment tomorrow could cause chaos for shoppers.