Credit cards soon to add PIN number option

Posted May 5th, 2008 by admin_huliq

Wouldn't PIN numbers make credit cards safer and less vulnerable to ID theft? There is a good news for credit card users. It seems that the industry is moving toward giving an option to consumers who will soon be able to choose between a signature or PIN number in order to authenticate the transaction.

The major credit card companies have agreed to introduce the system from the June 4.

A spokesman for the companies, Simon Greig, says it has been successful in other countries.

"It's more the case of adding a convenience on the Australian market, plus adding a facility which is across other countries in the world," he said.

"For example, New Zealand embraced this facility some years ago."

Source: By ABC Australia

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