Irish card payment processing company EuroConex claims to have made history by processing the very first non-test chip and PIN transaction in Ireland at the Nas Na Riogh Bookshop in Naas.
The transaction is understood to have been made on a EuroConex-owned Hypercom terminal on 28 June. Following that, the first concentrated roll-out of chip and PIN technology in Ireland took place last Tuesday (13 July) in the towns of Naas and Newbridge.
“This is a terrific achievement to have the first live chip and PIN transaction in Ireland going through the EuroConex network. We look forward to rolling out chip & PIN capability on a nationwide basis over the coming months,” said Erica McKinney, EuroConex product development manager.
The trial will give way to a gradual national rollout in September. EuroConex is understood to be focusing on nationwide rollout in Ireland and throughout the UK and all merchants that accept credit card payments should be chip and PIN compliant by January 2005.
Over the next year, all credit and debit cards will move away from a magnetic strip card, using a signature for verification, to a chip card (or smartcard), using a PIN. This is a more secure card payment system, which will help reduce escalating card fraud. The majority of countries in Europe and around the world have begun, or are currently in the planning stages of implementing the chip and PIN system.
By John Kennedy