PIN for Credit Cards... NOW!

Within the last ten years the infrastructure to support Credit Card PINs has been installed. The rush to allow debit cards to be accepted in the marketplace has paved the way to apply the PIN concept to the credit card. Many millions of POS terminals have been added into locations across the world. These POS terminals can be made to ask for a PIN on credit transactions.

In reality, the introduction of the POS terminal and phone transactions have bypassed the original intended purpose for a credit card transaction. The credit card is supposed to be a presentment system. The fact that I present the card to the seller says something about the legitimacy of me as the owner. With the advent of mail order, and phone transactions the need to have the card has dried up. The POS system does much the same. Now I don't have to present my card to the cashier, I swipe and control the transaction myself. If I am a crook using a stolen card, the cashier doesn't even know. Obviously with a phone or a mail order transaction the PIN concept does not work, however, the crook would leave a trail (shipping address) to follow. At a POS terminal there is no trail to follow. Once the crook is out of the store it is done.

By implementing a PIN system for the CC transaction you will be cutting down on the crooks ability to do a non traceable transaction. Use of stolen cards, duplicated cards would all be hindered by adding a PIN to the card present transaction.