On smaller payments such as parking and traintickets you just put your card in and it doesn't ask for your PIN but generally this is for smaller amounts. I was surprised the first time too but I guess the amounts are acceptable to the banks as you would have to use it a lot of times to make it worthwhile before the card was presumably cancelled.
But surely if fraud has been MASSIVELY reduced as claimed here (and frankly I believe it as growing up I knew of people living off card fraud as it used to be easy when it was just a signature) why would the banks not want to make those savings? Are the hundreds of millions seen as an acceptable loss? And finally, most POS chip and pin machines cost £15 or so so it's hardly a massive investment and the savings to the business doing the selling in terms of man hours dealing with the police and paperwork etc should more than cover it.
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@Skelband
On smaller payments such as parking and traintickets you just put your card in and it doesn't ask for your PIN but generally this is for smaller amounts. I was surprised the first time too but I guess the amounts are acceptable to the banks as you would have to use it a lot of times to make it worthwhile before the card was presumably cancelled.
But surely if fraud has been MASSIVELY reduced as claimed here (and frankly I believe it as growing up I knew of people living off card fraud as it used to be easy when it was just a signature) why would the banks not want to make those savings? Are the hundreds of millions seen as an acceptable loss? And finally, most POS chip and pin machines cost £15 or so so it's hardly a massive investment and the savings to the business doing the selling in terms of man hours dealing with the police and paperwork etc should more than cover it.
I just can't believe people are opposed to it.