As far as I know, the new concept of 'chip and pin' is that the card will need to be inserted in the reader and customer will be requested to key in the PIN, It still the concept of two-factor authentication - something you have and something you know. Even though someone may eavesdrop on the PIN, one will still need the card to carry out a transaction. As most of you know, the chip was introduced because it has become relatively easy to clone cards ie copy the magnetic stripe. With chip technology, at least for the moment, it is next to impossible to clone a card. There are specific ISO standards that govern the manufacture of microchips for use on credit cards etc and the manufacture of card readers.

Can't comment about PINs, post office and pensioners :(

Regards

Julian Curmi
Information Security Officer
Bank of Valletta plc
Malta, Europe

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