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Calls to introduce chip and pin worldwide

A consumer advice organisation has called for the global introduction of chip and pin to protect debit and credit card holders from fraud while abroad.

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24 March 2009

Calls to introduce chip and pin worldwide”

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Simon Crisp, director at Shopsafe.co.uk, insists the UK scheme has had a positive effect in combating card crime by forcing fraudsters to "look elsewhere".

Now he wants to see other countries adopt similar initiatives to protect a greater number of consumers.

Mr Crisp says: "I wouldn't call it backwards, but I do think that there should be worldwide solutions to this.

"After all, Visa and Mastercard are worldwide operators and within all territories there should be similar solutions, whether that is contactless technology or chip and pin."

According to recent Apacs figures, card fraud losses total £609.9 million, online banking fraud losses £52.5 million and cheque fraud losses £41.9 million.

The payments organisation claims the main driver for growth in card fraud is on those transactions without chip and pin protection.

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