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As the implementation of the chip and PIN (personal identification number) system is a programme of an unprecedented scale, a central Programme Management Organisation (PMO), acting on behalf of the banking and retail industries, has been established to oversee its delivery.
The PMO has created a dedicated website at www.chipandpin.co.uk that contains information about the chip and PIN programme and how it affects cardholders and retailers.
Background to the introduction of chip and PIN
Since 1995 the banking industry has been working to develop an enduring solution to plastic card fraud and the banking and retailing industries have joined forces to implement a PIN verification system that uses the power of highly secure chip cards.
This fraud-fighting programme means that, in 2005, the vast majority of face-to-face UK credit and debit card transactions will be authorised by the customer keying in their PIN (personal identification number) rather than by signing a receipt.
Using this better method of identifying the cardholder combined with the chip's ability to verify that a card is authentic will drastically improve security. When fully implemented, the chip and PIN verification system is anticipated to more than halve predicted UK fraud losses.
The UK's first chip and PIN transaction took place during 2003 with a public trial in Northampton and full national rollout is now well underway.
News releases:
Chip and PIN launches new memory campaign (10/08/04)
Chip and PIN Programme issues holiday PIN advice - 2003 global fraud hotspots for UK cards published (15/07/04)
Chip and PIN barometer - update on the national rollout of chip and PIN (May 2004)
Chip and PIN rollout gathers pace as major retailers make the move to safer shopping (20/05/04)
New research shows disabled people welcome chip and PIN (20/04/04)
Chip and PIN - new advertising campaign launches for 'biggest change since decimalisation' (15/03/03)
Plans for chip and PIN rollout announced (02/10/03)
Report into historic chip & PIN trial published (11/09/03)
Banks announce PIN to replace signature (08/02/02)
For more information contact the chip and PIN press office:
T: 0870 442 7898
E:chipandpin@fouplc.com
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