UK card payments association Apacs is set to introduce home chip and pin machines for credit and debit card users, it has announced.
The move is an attempt to reduce the amount of fraud perpetrated each year by illegitimate use of credit and debit cards.
Chip and pin has led to a reduction in the physical use of stolen cards and details, but many are still used in what are known as card-not-present transactions.
Typically taking place over the telephone or online, the value of fraudulent card-not-present transactions amounts to £95 million.
Sandra Quinn, director of communications at Apacs, said: “The UK is leading the way in identifying and developing technology to address card-related fraud. We are fully committed to tackling card fraud in all its guises and will continue our work to enhance security across all types of payments.”
Apacs data shows chip and pin payments now make up 97 per cent of all UK card transactions, with cardholders using their pin to confirm payments in 99.9 per cent of those transactions.
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