Debit and credit card fraud falls by 47%

New figures have revealed that retail optometry is benefiting from the move to 'chip and pin' debit and credit cards.

The figures, released by APACS, the UK payments association, show that from January to June 2005, fraud on lost, stolen and counterfeit cards in UK opticians fell by 47 per cent when compared to the first half of 2004.

The impact of chip and pin technology in other retail sectors has been recorded (see table) and the next stage of the implementation of the new technology is scheduled for February 14.

After that date, cardholders must use their pin number to be sure of being able to pay with their chip and pin card - if shoppers don't, their card may be declined and the option of signing can no longer be guaranteed.

Sandra Quinn, APACS' director of communications, said that although the figures for retail opticians were good, there was room for improvement.

'These figures show that chip and pin is already having such a tangible impact on the level of fraud in this sector,' she said. 'However, the level of fraud in opticians is still too high.

'Although the change happening after Valentine's day will really help drive fraud down by preventing fraudsters from using lost and stolen cards, chip and pin card-accepting businesses can play their part now both by encouraging customers to always use a pin and by ensuring staff are trained to help those customers not using a pin to start in good time for February 14.'

To help retailers, APACS' chip and pin programme has issued a range of guides for both managers and staff to help them prepare for February's changes.

It has also developed a range of point of sale materials to remind consumers to use their pin number. Readers interested in obtaining these items can log on to www.chipandpin.co.uk