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Frequently Asked Questions - Chip & Pin
Can I add chip+PIN to my existing DOS EPoS system?
Yes, ACK will support DOS EPoS systems thereby ensuring retailers investment in their point of sale system is retained. ACK have also developed software that allows DOS EPoS clients to utilise the Windows EFT server which offers retailers a migration path.
Will adopting chip+PIN save merchants money?
Yes. In some cases, the merchant service charge should be reduced for chip+PIN transactions because the fraud risk for the merchant and acquirer will be reduced. However, the cost of adopting and deploying the technology must be borne by the merchant.
Will chip+PIN replace magnetic stripe entirely?
No. Magnetic stripe cards will still be issued by some card issuers (mostly overseas issuers) and chip cards will continue to be issued with magnetic stripe so that they can still be used should the chip card fail to be read for any reason. This is particularly true in the transition period as systems convert from magnetic stripe to chip cards.
Will chip+PIN remove the need for on-line authorisation?
Yes. The UK acquirers currently insist that all chip card transactions must be authorised on-line, but this will change in time. However, retailers might wish to review their data communications infrastructure now and take advantage of fixed-cost services (such as ADSL) which will enable them to achieve faster on-line authorisation and at the same time bringing other benefits to the business.
Will chip+PIN reduce speed up the sales process?
A. Yes. Tests have shown that cardholders adapt quickly to inserting cards and entering PIN which eliminates delays in handing over a card to the till operator and for the till operator to visually check the signature. However, the need to go on-line for authorisation might add to processing times.
Will cardholder not-present transactions be more secure?
No. It will not be possible to use chip+PIN technology for these types of transaction. In fact, fraudsters will be much more likely to target cardholder not-present merchants.