What must the banks do?
What are the town trials?
Is it chip now and PIN later?
What is EMV?
What is the BRC chip card architecture?
What standards apply?
 

Is it chip now and PIN later?
  
Because there are currently no chip and PIN cards in circulation, but there are approximately 50 million chip only cards, it is rumoured that the UK is moving first to chip and then to chip and PIN. This is not the intention of the UK banks and building societies all of which are fully committed to chip and PIN.

It is certainly true that a UK retailer picked at random will observe a peak in chip only transactions followed by an increase in chip and PIN transactions over the next three years. However, it is understood that there are plans to issue the new chip and PIN cards geographically so the chip only peak should be minimised.

It is not necessary to install chip only systems initially followed by a further upgrade to chip and PIN. Full chip and PIN systems will cope equally well with both types of card. What has confused some is that certain retailers have elected to upgrade first to chip and then to chip and PIN for specific economic reasons, not technical reasons.

See also:

What must the banks do?
What are the town trials?
What are my hardware choices?

 
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