Pen or PIN? The choice is yours
CUA members will now have the choice of a faster and easier way to authorise transactions made on their Visa Debit or MasterCard.
Previously, cardholders who selected the ‘credit’ button at EFTPOS machines had to sign their name to authorise transactions made in person. From 4 June 2008 however, the option will be available to enter a Personal Identification Number (PIN) as an alternative to signing for purchases, giving cardholders a choice depending on which selection they feel more comfortable with.
Why the change?
Entering a PIN makes the process at the EFTPOS machine faster, since there is no need for the shop assistant to check the signature. The change also brings Australia more into line with countries overseas where PIN is already accepted to authorise credit and debit card transactions made in person.
How will it work?
When cardholders press the ‘credit’ button when purchasing items in most shops across Australia they will prompted for a PIN, at which time they have the choice of either entering a PIN and pressing OK, or just pressing OK if they wish to sign the receipt as they have done in the past.
Do I have to have a PIN on my cards?
No. Cardholders who prefer to authorise transactions by signing will still be able to do so, as long as they press the ‘credit’ button.
How do I get a PIN?
Your PIN will remain the same as the PIN that is already loaded on the card for EFTPOS transactions. If you are unsure of your PIN, or if you want to change it to something that is easier for you to remember, drop into your local CUA branch.
Will there be a transaction fee?
All transactions made by pressing the ‘credit’ button will continue to be free, regardless of whether you enter a PIN or sign.
How do I find out more?
Further information can be found at www.penorpin.com.au.
