What is chip and PIN?
Chip and PIN card system were introduced across the UK in 2004 as part of a world-wide programme to reduce debit card fraud. The chip and PIN card looks the same as any of your old style cards but has a 'smart' chip that holds your 4--digit Personal Identification Number (PIN)..
Why did chip and PIN happen?
The chip is personal to you and the PIN, unlike a signature, cannot be forged. This makes counterfeiting almost impossible and keeps your transactions secure when you're out shopping. A similar scheme in France has cut card fraud by 80%.
What will chip and PIN mean for me?
When you pay for goods with your new chip and PIN card you won't have to sign a receipt; instead you'll be asked to enter your PIN into a keypad. These keypads are generally available in all retail outlets throughout the UK.
If you want to know more - click here to visit the official chip and Pin website.