BANK CARDS - Signatures will soon be a thing of the past

  • 2007-10-24
  • By Joel Alas
TALLINN - Signature-based card payment systems will be obsolete within a year as Baltic banks and retailers push toward PIN-authorized transactions.Card fraud has been made nearly non-existent thanks to the extensive reach of EMV cards and readers 's better known as the 'chip and pin' system. While other European nations have been slow to take up the secure system, Baltic banks are among the world's leaders in adopting the technology. Around 85 percent of bank customers in the Baltics now hold a 'chip and pin' card, while around 70 percent of ATMs and point-of-sale syste...
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