Card fraud rife despite Chip and Pin

A few years ago the nation was introduced to Chip and Pin technology which was a new type of technology that had been designed to increase security for plastic card users and to cut down on the rising level of card fraud that was being seen across the country. Read more

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Holiday dangers for credit card users

Holidaymakers are at a growing risk of credit card fraud when they are out of the UK, new research has warned.

Data published by Apacs this week shows that using credit cards in countries with less secure identity verification than the UK – particularly those which have not adopted Chip and PIN technology – puts consumers at greater risk of fraud.

“The Apacs figures show a staggering £90.5million rise in fraud abroad with UK cards being targeted in countries where Chip and PIN hasn’t yet been adopted”, said Neil Munroe, external affairs director at Equifax.

Cloning is a particular risk, Equifax claims, advising travellers to take as few cards away on holiday with them as possible, and never to let someone process a card payment out of their sight.

“ID and credit card fraud is a very real threat for consumers, making it essential that they take sensible precautions to protect themselves. Armed with the right knowledge, consumers can help minimise the risk of fraud and take fast action if they do become victims,” Mr Munroe added.

Tags: consumers, GBP, chip and pin, credit card fraud, card, staggering £90.5million rise, Travellers, Credit card

No more chip and pin for RBS credit cards

The Royal Bank of Scotland (RBS) is all set to introduce a new contactless credit card which uses radio waves to make payments.

All you have to do is touch the new credit card on terminals provided at participating outlets to pay for items under £10 – no pin is required.

Shops will start to use the new technology in September. RBS’ launch comes close on the heels of the new OnePulse credit card introduced by Barclays.

The OnePulse card works in the same way but can also function as an Oyster card, Barclays having signed a three-year exclusive deal with Transport For London.

The speedy nature of RBSs new credit card’s transactions was displayed after the company drove an AT & T Williams formula one car to a McDonalds drive through to buy a meal using the new technology this week.

Tags: Credit Cards, September, chip, McDonalds, chip and pin, card, formula, The Royal Bank of Scotland