TITLE

Chip and Pin faces delays of five years as retailers add up the costs

AUTHOR(S)
Thomas, Daniel
PUB. DATE
May 2004
SOURCE
Computer Weekly;5/25/2004, p14
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
More than 20% of medium-sized retailers in Great Britain have decided to delay implementation of chip and Pin-compliant systems until their next point of sale upgrade, according to research released last week. The findings, from a survey of 179 retailers by software firm Retail Logic, means that it could be more than five years until all Great Britain retailers can accept Pin authentication, despite the fact they will be liable for fraudulent transactions from January 1, 2005. Of the respondents, 52% estimated that the cost of migration would be between £100,000 and £500,000, and that 18% were planning to spend less than £100,000 and 10% more than £1 million, the survey showed. Despite fears over complexity and cost, more than half of the respondents said they would be ready before the January dead-line, 26% expected to go live no more than six months later and 79% hoped to be ready within the next 12 months. However, these targets may prove to be over-ambitious for many retailers, said Peter Mila, IT director at fashion retailer Kookai, which is just about to go live with chip and Pin.
ACCESSION #
13426575

 

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