PINs a jewel in crown of security of cards

BORDER retailers believe the phasing out of signature verification for credit cards is a step towards eliminating fraud.

Come July this year, cardholders will be asked to use a PIN instead of a signature.

The owner of Wodonga’s Fogarty’s Jewellers, Glenda Fogarty, said she supported the concept.

“It will just be so easy,” she said.

“Technology has moved on and we have to go with it.”

Mrs Fogarty said the business had previously encountered those who had forged a signature and she believed a PIN would be a step in the right direction to eliminate the problem.

Mrs Fogarty said the change would also save time because they would simply key in a number rather than sign and wait for it to be approved by the cashier.

Albury Harvey Norman electrical franchisee Simon Moir said cashiers seldom checked every signature they were presented with.

“You can offend people if you say it doesn’t quite match,” he said.

“I think it will tighten security because it’s easier for people to forge signatures than guess a PIN.”

Wodonga Chamber of Commerce president Brett Drinnan said PINs would protect customers and businesses alike.

“It would almost be impossible to get hold of somebody’s PIN,” he said.

“I believe it will protect businesses against fraud and the criminal element will need to think twice before producing a fraudulently obtained credit card.

“Without the PIN the sale won’t go through and the business won’t lose out.

“Goods by deception cost taxpayers and businesses millions of dollars a year.”

Mr Drinnan said he 100 per cent supported any measure to secure finances.

“It’s hard enough for businesses to make a dollar in this day and age without being deceived,” he said.

East Albury IGA manager JP Mathews said he did not think it would be a noticeable transition because “90 per cent of customers using credit cards use PINs anyway”.

“It’s quicker for starters,” he said.

“Customers can generally punch in the PIN and it takes away the human element of having to check the human signature.”

The Hot Topic — page 33

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