SURVEY: U.K. retailers value chip and PIN tech

SURVEY: U.K. retailers value chip and PIN tech
Tags: Bank / Credit Union, Debit / Credit, EMV, Security, Transaction Processing, Trends / Statistics
February 7, 2006

ePaynews.com: U.K. retailers favor chip and PIN payments, according to a Visa survey. Eighty-one percent of respondents welcome the drop in fraud, and 67.9 percent say they appreciate the related cost savings. Chip and PIN cards brought an extra Stg. 58.7 million (U.S. $102 million) in transaction value to the United Kingdom's retail sector in 2005, as consumers' interest in the new cards drove a 5 percent increase in credit and debit card use. But fraud still remains a risk, according to APACS.