Visa said it is phasing in chip technology for all New Zealand Visa cards over the next four years."From April 2010, all new Visa credit cards issued in New Zealand will feature secure embedded smart chips to give New Zealanders a higher level of con
Visa said it is phasing in chip technology for all New Zealand Visa cards over the next four years.
"From April 2010, all new Visa credit cards issued in New Zealand will feature secure embedded smart chips to give New Zealanders a higher level of confidence in the security of their transactions," Visa's country manager for New Zealand, Sean Preston, said.
Signatures will no longer be accepted at the checkout from 2012.
Mr Preston said the move to chip and PIN was part of a seven-point security agenda that also includes initiatives to enhance the security of online transactions.
Currently about 4 percent of Visa cards issued in New Zealand are chip-enabled. Chip cards used with PINs have proven to be effective in reducing counterfeit card fraud overseas.
