The latest fraud figures from APACS show that chip and pin has done what it was intended to and counterfeit, lost and stolen fraud is plummeting. Moving equally fast but in an upwards direction is card not present fraud.
I’m about to start working on an article on this subject for European Card Review magazine. Last time I tackled the subject, in 2004, the talk was all about token based authentication but nearly two years on, there’s certainly no sign of a card reader or pin pad on my desk (not even after I tidy it). Presumably UK banks are still arguing about who is going to pay for such a thing. In 2004, the country that seemed furthest ahead with TBA was the Netherlands, albeit in a proprietary way. Would anyone like to comment about progress over the past two years in Europe with this technology?