Chip and Pin Debit Card Fraud Protection

Since the begining of money, it seems people always try to find away to fraud or steal, and debit cards are no different. To help combat the ingenious thieves of the world, in many countries, the use of PIN (personal identification numbers) validated transactions with smartcard chip readers is being strongly encouraged by banks as a method of reducing cloned-card fraud; to the extent that cardholder-present transactions will soon not be possible in these countries without knowledge of a PIN, and the POS (point of sale) terminal reading the smart card chip on the card.

This seems to be an excellent form of fraud protection, and helps consumers feel a little more at ease when using their debit card.