From Valentine's Day next year, retailers will not be obliged to offer the back-up facility. However, shoppers with old-style cards that have not yet been upgraded to Chip and PIN will still be able to sign for purchases.
Card fraud has declined by almost a third, according to the Programme's study, published today. Fraud using lost, stolen and counterfeit cards fell by£36 million between January and June, compared with the same period the year before.
British Retail Consortium director Paul Smith said: 'Our experience in shops shows that most people have taken to Chip and PIN like ducks to water. They find it simple, quick and convenient. Now is the time to encourage those not using PIN to get ready to do so by February 14 next year, so that we can drive even more fraud out of our shops.'
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