The banking industry continually seeks to find
cost-effective methods to minimise fraud, although often in a way that creates
issues or insecurities with the customer. A great example is the UK’s
implementation of Chip&PIN, with Canada, France and other countries
implementing similar programs.
From a personal perspective, the one thing
I have noticed is that consumers continually leave their cards in the
terminal. On four occasions this month, I've found someone else's card left in
the POS PIN terminal.
how many cards are left in terminals each day?
I wonder if we should have just separated the
Chip&PIN double-act at birth, as demonstrated brilliantly by comedians Mitchell & Webb in
this
classic sketch:
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...