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Chip and PIN in the home

April 18, 2007 by admin  
Filed under News, News-Banking

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Online banking may be about to change forever after Barclays Bank revealed that it will be sending Chip and PIN card readers to people’s homes.

The initiative is designed to reduce the cases of online fraud and beef up security for those who choose to bank over the internet.

Customers who use their Barclays online account to make payments to a third party will receive their PINsentry device later this year.

It is hoped that by introducing the new devices, customers will no longer be required to remember a user name and password to make transactions and can instead simply punch in their PIN number.

“Barclays is constantly working to help protect customers and their money and that is why we have invested in this system,” said Barnaby Davis, director for electronic banking at Barclays.

“PINsentry is the next generation of fraud prevention technology and Barclays is proud to be the first organisation in the UK to roll it out to its customers.

“The popularity of Barclays service comes down to convenience and security and the introduction of PINsentry will enhance both of these features,” he added.

Barclays plans to roll out the new service to half a million customers across the UK by 2008, with this number increasing in time.

Tags: year, Chip Authentication Program, uk, Banking, fraud, online banking, barclays online banking, online fraud

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