Its a good thing that the use of signature for electronic transaction is coming to an end, as far as I’m concerned
But advocates for the elderly and disabled still have concerns about the new system.
‘‘The purpose of this is better security but for some people it will have the reverse effect,’’ Council on the Ageing Australia’s chief executive, Ian Yates, said.
The council has had reports of bank staff advising elderly people with memory problems to carry a written record of their PIN.
‘‘I’m sure that’s not the official bank position … but that’s what some people will do,’’ Mr Yates said. ‘‘The security implications are worrying.’’
The president of Blind Citizens Australia, Greg Madson, said many older members had never navigated a terminal keypad. ‘‘We will be advocating for some sort of uniformity across the design of these [terminals] so that people who are vision impaired … [do] not have to struggle around the keyboard,’’ he said.
The executive director of the Australian Retailers Association, Russell Zimmerman, said retailers were prepared for the switch and the majority welcomed it.
‘‘It’s going to be far more secure,’’ said Mr Zimmerman, who knows of one man who regularly signed for credit card purchases as ‘Mickey Mouse’. ‘‘Retailers just do not look at these signatures.’’
I have long thought that it was just too easy to copy a signature on the back of a credit card, so much so that I have long had “Pin only” written on the back of my credit card. To be honest I don’t think that there will be a substantive number of may fellow codgers who have problems with this change. Heck I think that many of them will have , like yours truly, already embraced the Paywave tech which makes the use of even a pin number largely obsolete.
Sometimes change is worthwhile but you won’t hear that said often from me.