Australian credit card customers will soon have the option of signing their name or keying in a PIN when shopping.
Pen or PIN project spokesman Simon Greig said the change would make it faster to make a purchase with a credit or charge card.
“Australians are among the most prolific card users in the world, making more than 118 million card transactions per month,” Mr Greig said.
“The introduction of PIN on credit and debit cards will give cardholders a quick and easy alternative to signature authorisation when making purchases in person.”
The change is set to occur on June 4 and will be available to all American Express, Diners Club, MasterCard and Visa customers, at more than 600,000 point of sale terminals across the country.
The introduction of credit card PIN will bring Australia in line with several other countries, including New Zealand, who have been using the system for several years.
More information: www.penorpin.com.au