Quizzes & Puzzles31 mins ago
Chip & Pin
Hi Went into a store today and they did not have the Chip & Pin for credit cards I thought it was law now? Am I wrong? Thanks
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Chip and pin is not a system introduced by the government.
It was introduced fully in this country on Feburary 14th 2006 by the banking sector.
A company accepting payment by bank card or credit card after 14th of Feb is not obliged to ask the card holder to use chip and pin, however if they do accept a signature as proof of authorisation and then the transaction turns out to be fraudulent, then the company or trader is responsible for the balance of payment to the bank.
It was introduced fully in this country on Feburary 14th 2006 by the banking sector.
A company accepting payment by bank card or credit card after 14th of Feb is not obliged to ask the card holder to use chip and pin, however if they do accept a signature as proof of authorisation and then the transaction turns out to be fraudulent, then the company or trader is responsible for the balance of payment to the bank.
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