Chip and PIN celebrated on Valentine’s Day
February 16, 2011
February 14th 2011 was St Valentine’s Day, with many couples celebrating the occasion with romantic outings and gifts. However, there was also another celebration going on this year – it was the five year anniversary of Chip and PIN technology, which was celebrated by the credit card industry.
It was February 14th 2006 when the official changeover to the secure Ship and PIN system took place in the UK, and now there are over 140 million credit and debit cards using this technology in the UK. It is thought that Chip and PIN technology has helped to reduce credit card and debit card fraud, providing consumers with a convenient, simple, and more secure way of making plastic card transactions.
The UK is said to be the first place to roll out the global version of this technology, and these days many people use the Chip and PIN technology to make all sorts or purchases. The roll out of the technology in other countries, which is now increasing, has also helped to cut down on debit card and credit card fraud for UK consumers using their cards abroad according to the UK Cards Association. This is very comforting for people given the concerns that many have about becoming victims of this sort of crime.
Tags: #creditcards, #chipandpin, Cards, #anniversary, Technology, global versionOne industry official said: “The UK was the first country in the world to fully rollout this global version of chip and pin, demonstrating our commitment to embrace innovation for the benefit of our customers. Five years on and cards continue to be an increasingly popular way to pay, whether at home or abroad, which is no surprise given the fact that they allow us to pay for things safely, easily and conveniently.”
Credit Cards To Hit £ 7 Billion
January 6, 2009
It is thought that credit card holders will be trying to transfer as much as £ 7 billion at the beginning of the New Year in order to take advantage of introductory rates that are that are on offer. Read more
Tags: Credit Cards, Cards, abbey, credit, 0% introductory offer, changeoverIncreased Credit Card Spending
November 23, 2008
Surprisingly new figures have shown that even in the current economic climate spending on UK credit cards and debit cards in the month of September increased. Read more
Tags: Credit Cards, payments association, debit cards, apacs, Cards, credit card purchases