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From Pen to PIN
Since the introduction of chip and PIN technology in the UK in 2005, it has become the norm to punch in a four-digit code instead of signing a slip when paying with a credit or debit card. It’s something you do without thinking.
However, this small act that has become second nature to most of us is a powerful weapon against criminals. In 2004, prior to chip and PIN, £114.4 million was lost in fraudulent transactions with counterfeit cards, according to figures from Financial Fraud Action UK. In 2005, the figure fell to £96.8 million.
Since then, the figures for fraud committed with counterfeit or lost or stolen cards have continued to fall. One of the main reasons that fraud still occurs cited by the Financial Fraud Action UK on its website is the “small number of UK retailers who have not upgraded their systems to chip and PIN where customers, and therefore fraudsters, are still able to sign.”
It’s important to note that the PIN technology that has been enabled by Shell on its euroShell fuel cards this year does not include chip. However, the process is similar: the Shell card is still swiped but instead of signing a slip, customers are asked to supply a four-digit PIN number.
It’s a move that has brought our UK fuel cards in line with industry standards and euroShell card users in the rest of Europe. Drivers are now able to use their PIN at over 900 branded Shell sites. All third-party network sites (Esso, Total and Texaco) will continue to use the current signature verification process at point of sale, until PIN can be deployed at a later date.
Protect your card
For more information on the euroShell card’s PIN technology, please go to our dedicated web page at www.shell.co.uk/pin