Concerns that smaller businesses would fail to meet the deadline were unfounded as most c-store retailers had prepared for the change.
David Smith who owns Smith’s Corner Store in Grimoldby, Lincolnshire, had given his customers the chance to use their PINs for more than a year and was ready for the deadline. He said: “We’ve not had any major problems but I’m a bit cynical that Chip and PIN is simply a shrewd move by the banks to pass the responsibility for fraud onto us as retailers.
“Expense wasn’t a big problem as we’ve got a contract with the bank and that seems to be the best way to handle it. I can see that if you didn’t have a contract, though, the cost of the switchover could be pretty expensive.”
David Rogers owns Rogers News in Coventry and is one retailer who has not yet made the switch to Chip and PIN because of the cost.
He explained: “It hasn’t been a top priority for me. I’m aware of the implications that I would be liable but just haven’t got round to it because of the time and expense involved.”
There are also concerns that the crackdown on fraud could drive criminals to commit other retail crime including theft.
Stars News security manager Mark Stevenson fears we are already seeing the start of this crime dispersal. “Criminals that previously targeted banks now have to look elsewhere,” he said.
“Also I’m sure there are stores which have not changed their equipment because of the extra expense and they should be aware they could be targeted.”