Changing to chip and pin is an enormous task involving large
scale technical changes, training for the 1.5 million retail staff and
education for the 42 million card holders. It is estimated that the total
cost of implementing the chip and pin system will be approximately £1.1
It is not just the cards themselves that need to be changed.
All retailer integrated payment systems and stand-alone terminals, cash
dispensers and customer activated terminals - which includes kiosks, ticketing
machines and outside payment terminals - need to be upgraded to accept
chip cards and provide a PIN pad. All the banking systems need to be upgraded
to process the new EMV chip information and manage cardholder PIN changes.
Rigorous new processes of certification [see: what is EMV?]
for all new cards and terminals ensure compatibility and operability across
The integral security of the cardholder entering their own
PIN creates new possibilities for cardholder activated terminals (CAT).
Traditional kiosks and ticketing machines can start to offer higher value
items. New payment channels over the Internet and TV set top box will
emerge. Self-scanning and payment can become a reality in the supermarkets.