The figures, released by UK payments association APACS, follow the revelation in the Scottish Grocers' Federation (SGF) annual retail crime survey that Scottish retailers had experienced a 54% increase in the cost of card fraud (C-Store, March 9, 2007), despite the introduction of Chip and PIN.
SGF president Pete Cheema said he believed the reason for the rise could be down to the growing number of techniques used by fraudsters to obtain PINs, such as skimming and cloning - something which isn't avoidable even with Chip and PIN.
APACS bosses, however, remain confident that the best option for retailers looking to cut card fraud is to install Chip and PIN systems.
An APACS spokesman told C-Store: "The figures show a 47% reduction in UK retail face-to-face fraud and this extended to the c-store sector. Chip and PIN offers retailers the highest level of protection possible.
"A growing number of c-store retailers have installed Chip and PIN, but all retailers should take advantage of all the card protection available in order to safeguard their business."