Alliance & Leicester Current Accounts: Brits love chip and pin

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Alliance & Leicester Current Accounts: Brits love chip and pin

Britons are growing to love the chip and pin system in time for the Valentine's day deadline, according to research from Alliance & Leicester.

The majority of British shoppers, 86 per cent, told the lender that they are comfortable using the new chip and pin service.

This figure is equivalent to 38 million people and signals that the February 14th deadline will not pose a problem.

After this date, customers' cards can be declined if they refuse to use the chip and pin method and wish to sign for their purchase instead.

In addition, since the launch of the technology, the industry has seen a 33 per cent reduction in counterfeit card fraud, according to the latest research from Alliance & Leicester Current Accounts.

Simon Ripton, Alliance & Leicester Current Accounts manager, said: "It isn't just the security benefits, 52 per cent also say that chip and pin has speeded up transactions - which has to beneficial to consumers and retailers alike."

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