GFG GROUP - NEWS ARCHIVES - 2007
Compulsory PIN numbers fuels interest in remote PIN selection
30 August 2007
Compulsory PIN numbers for credit cards in Australia has produced a spike of interest in an application from GFG that lets customers select their PINs without visiting a branch.
Australia does not presently use PIN numbers on credit cards, but from February 2008 all credit cards in Australia must offer PINs for EFTPOS transactions. Issuers of credit cards are casting around for the best response, with many showing interest in GFG's PINselect system, says GFG Account Director Ewan Wilson.
"The new PIN requirements in Australia are part of wider global trends towards reducing fraud and enabling remote customer service," he says.
"Remote customer service is being driven both by branchless organisations, and to reduce the need for busy customers to visit branches. The new Australian requirements mean many banks will need to make changes to their systems, and GFG's proven 3DES telephone-based system is attracting notice as a highly cost effective compliance option."
PINselect integrates readily with both the banks' interactive voice response system and the card or switch systems. Card users only need access to a telephone to change or select their PIN number. Card holders can select or change their PINs without visiting a branch, from anywhere in the world.
Banks usually send the first PIN to the card holder's mailing address, with simple instructions on how to use the telephone system to change it.
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