Chip and Pin technology is the new payment system that will be officially introduced in the UK on the 14th of February in shops, restaurants, hotels, pubs and petrol systems. The problem that many have started facing and many will face on the 14th is recollecting their pin numbers as the option of signing the credit card bill will cease to be an option. The consumers will have to remember the Pin numbers of their credit cards.



The Chip and Pin system was first trialed in Northampton in 2003 and last year it had successful trial in the whole of the UK. This change in the payment system is considered to be a breakthrough, as the tests have proved that chip and Pin has led to the downfall of credit card frauds by 29 percent in the past 12 months by £126.6m to £89.9m. The reasons differ, but prominent one is the microchip embedded in the card that stores data more securely than the magnetic strip. The cardholders need to feed in the correct PIN numbers and if you have forgotten it you have to contact the card provider to get the right number, to avoid your number getting locked up