28 June 2005
A new device could help reduce credit card fraud by reducing the consumers' need to write down their PIN number.
Cardextras.com has revealed that 32 per cent of cardholders, some 13.6 million people, scribble down the PIN numbers to help remember them.
Christine Lawton of cardextras.com, said: "The introduction of Chip & PIN is a welcome measure in the fight to reduce fraud.
"However, as cardholders struggle to remember a variety of different PIN numbers, there is a danger of an increase in the risk of fraud as people write down their PIN numbers without disguising them."
To contend with the problem of multiple PIN numbers, cardextras.com has developed PINcard.
It is a credit card sized device that uses a series of grids to remember 12 different PIN numbers, leaving the cardholder to just remember one simple two-character code.
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