News

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

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.