Chip and Pin sales hurt Trinitech profits

TRINTECH, the electronic payments group, has warned revenues will be lower than expected because of a slowdown in demand for Chip and Pin software.

Sales of the technology, designed to make credit card transactions more secure, have been down for some months.

The company said it now expects revenues for the three months to end July, to be in the region of $12.25 million (€9.85m), about 10% lower than expected.