Majority of Credit Card Holders Comfortable with Chip and Pin Technology
Although many consumers were initially concerned about the move over to Chip and Pin technology from the traditional method of signing a receipt, research that was recently carried out has indicated that the vast majority of consumers now feel totally comfortable using this credit card technology, and have found the transaction from the old method to the new to be smooth and trouble free.
 In the past consumers that wanted to make purchases on their credit cards had to sign a receipt, but with the introduction of Chip and Pin all that has to be done is for the customer’s card to be inserted into the card machine at the checkout, and for the consumer to enter his or her unique Pin number. This is thought to be a safer, more secure, quicker, and more effective method than the old one, where a simple forged signature could result in successful credit card fraud.
As part of the study carried out by Harris Interactive, over two thousand adults in the UK were interviewed. According to the results, over fifty percent were very happy with the Chip and Pin method of payment on their credit cards, with many stating that they felt that this method was not only more secure but also fast and more efficient than having to sign receipts when making a purchase.
The results of the study also showed, however, that around seventeen percent of consumers were not happy with the Chip and Pin method, with fourteen percent stating that they did not feel very comfortable using this method, even though many also added that they did feel that it was more secure and safer than signing a receipt. One official from the research company stated: " Levels of comfort and positive attitudes towards chip and Pin are good news for the industry. However, it is clear that a small, but not insignificant, proportion of consumers still feel uncomfortable and unfamiliar with some aspects of the process."
Alisdair Milton
21st November 2006
More Information:
|
feed