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Source: Scotsman News Chip and PIN was introduced in February 2006 as a replacement for the old-style signature strip system, which was considered to be an easy target for potential fraudsters. Since its introduction, it has been credited with cutting down on fraud, but a report produced by uSwitch.com suggests this has not come without a cost to consumers. The service said the introduction of the new technology had led to a “dramatic increase” in credit card debt, and added that up to one million people believe that charges on credit card cash withdrawals are free, as they are on debit cards. This is not the case. [more] Leave your own comment |
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