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Change is coming: PIN only purchases

A national campaign has been launched to encourage customers to choose the PIN option, instead of signing, when making credit and debit card transactions.

The PINwise campaign is about strengthening payment security. Where you sign to authorise a transaction today, you are instead being encouraged to use a PIN.

The announcement comes as new research¹ reveals that signatures aren’t always checked at the payment terminal, with over half of those surveyed (55%) indicating they sometimes receive their card back before they’ve signed to validate their purchase.

While cardholders can for now still sign to authorise a transaction, this function won’t be available for much longer. We are therefore encouraging customers to proactively check, set-up, and start using their credit and/or debit card PINs.

If you don’t remember the PIN on your Queenslanders Visa Debit card, the easiest thing to do is bring your card into a branch to request a new PIN on the spot (you can even choose your own number). If you can’t get to a branch, contact us and we’ll send you a new card and new PIN.

If you need a PIN for your MyCard MasterCard, call 1300 135 538.

Operational Services Manager Chris Nettos said that while entering a PIN instead of signing would be a significant behavioural change for some customers, it’s a move that will make the payments industry even safer.

“While signature is a valid form of identification, technology has developed and steps need to be taken to ensure our payments system remains at the top of its game,” he said.

“Using your PIN is safer than signing and helps protect against fraud due to lost or stolen cards.

“This is because there is only a one in ten thousand chance of someone guessing your PIN, but your signature is right there for all to see.”

Find out more at pinwise.com.au.

¹Australian Consumer Payment Snapshot Report 2013 conducted by Pureprofile, November 2013. Data captured 1,253.