PIN (& Chip) or signature - beating the cheating

Abstract

Abstract. Our paper first reviews some of the most critical issues related to the introduction of Chip & PIN card payment authorisation, and then outlines one part of our experiment 1 that we decided to undertake to validate some of our views and ideas. Our experiment examines, in two phases, whether introduction of this authorisation method is advantageous for an opportunistic thief and whether the customer truly benefits from the Chip & PIN technology with respect to this opportunistic thief.