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Technology easy for debit and credit card holders, says bank

Wed, 18 Jan 2006

Debit and credit card holders in the UK are becoming increasingly comfortable with using chip and pin technology when they pay for goods, new research suggests.

Alliance & Leicester Current Accounts found that 86 per cent of people regularly use this to pay via debit and credit card.

From Valentine's Day onwards, debit and credit card holders may have their plastic declined if they still rely on signature verification.

Chip and pin is widely supported, with four in five debit and credit card holders surveyed by Alliance & Leicester Current Accounts saying the technology is a good idea.

Furthermore, a quarter of debit and credit card holders said they now find it easier to remember their pin than a year ago.

The "overwhelming majority" of debit and credit card customers are now comfortable with using chip and pin and recognise the technology's benefit in terms of fraud reduction, comments the bank's current account manager, Simon Ripton.

"But it isn't just the security benefits," he says, adding that more than half of them also say that transactions are now conducted faster thanks to the technology.

Alliance & Leicester says debit and credit cards are becoming more and more popular, with 63 per cent of people admitting they use plastic for most purchasing purposes.

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