No panic on new credit-card PINs

‘Don’t panic about the switch to PIN!’ says eftpos CEO Bruce Mansfield. ‘While there may be some issues with PINs on credit cards on Friday, most consumers are very familiar with their eftpos PIN, which is the same as their ATM PIN.’

Consumers who forget their credit-card PIN will almost certainly recall their eftpos-card PIN, which is the same as their ATM PIN.

Consumers who forget their credit-card PIN will usually recall their eftpos-card PIN.

Mr Mansfield says of the 38 million eftpos-enabled cards in the Australian market, 14 million are eftpos-only cards, and eftpos CHQ and SAV is the most used payments type in the country.

‘If retailers come up against any problems,’ he says, ‘they should just ask if the customer has an eftpos card, or any other card that supports eftpos CHQ and SAV transactions. The chances are, they will remember their PIN and be able to make the transaction.’

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