New hi-tech security to ease care users worries

NEW security technology in credit and Laser cards should soon ease consumer worries in the wake of the Penneys duplicate charging episode, leading retailers said yesterday.

So-called “chip and PIN” technology will reduce the potential for transactions being processed twice when it is introduced on a phased basis over the next 12 months.

The new set-up, which will involve all credit and Laser cards being fitted with a smart chip, will replace the current procedure where cardholders sign a slip after their card is swiped. Shoppers will instead key in a PIN at checkouts and counters in the same way as when they use bank cash machines.