Card bodies monitor chip and PIN

A committee consisting of representatives from Visa, MasterCard, merchants, card issuers and card acquirers has been established by The Australian Payments Clearing Association, with a primary focus of identifying possible problems that could slow the uptake of new “chip” and “PIN” cards in Australia. The new cards have lower interchange fees and both Visa and MasterCard envisage acceptance by all merchants by early 2008.

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