The big question: Do you trust chip and Pin payment systems?
Although most IT professionals have faith in the security of chip and Pin systems, 42% do not trust the card payment authentication technology, according to this week’s Big Question survey.
Shell suspended the use of chip and Pin cards at its petrol stations last month after a £1m fraud was discovered. Security experts said the chip and Pin cards issued by banks were vulnerable because they contained unencrypted data on magnetic strips, which, when used with a Pin, could be accessed by fraudsters.
However, 58% of the IT professionals surveyed backed chip and Pin.
Project and test manager Doug Lawson said, “The fraud is to do with the magstripe technology. The fraudsters disable the chip and Pin technology, forcing the terminals to go into fallback mode.”
A contractor working for a major high street bank pointed to banks’ sensitivity on the issue. “We got an e-mail telling us not to talk to anyone about the chip and Pin fraud issues,” he said.
Security consultant Michael Clare said, “Chip and Pin is an insecure technology. Why don’t we follow the US, which does not have chip and Pin in the main and relies on photo cards with encoded information?”
The Big Question is an initiative between Computer Weekly and recruitment consultancy PSD. Each week we put the Big Question to top IT professionals to get their take on a current talking point.