Chip and Pin has been the banking industry standard for card holder present payments for a number of years and was introduced to reduce the chances of fraud. Most organisations have it and have it for a number of years so it has taken us a bit of time to catch up.
ok but the question was, what was the problem with it before? you could still use your card before couldn' t you?
Yes of course but the point ESL was making was that we've finally caught up and introduced something that has been common place elsewhere for years.
What was the problem with it before? Your card was less secure and more open to fraud. I think that's a pretty big problem dont you?
You could still use your card however you were running the increased risk of fraud as well as the risking potential charge backs. Ie buying some tickets and then claim they lost the card and would be refunded by the bank and so forth. There are stalls on barnsley market that have used chip and pin payment technology longer than bfc have had it installed and they are a multi million pound company.
