Half of Brits don't have all chip and PIN cards

Banks fall behind...

Less than half of Britons have received chip and PIN replacements for all their credit and debit cards, according to new research which reveals the rollout of the technology is "slower than expected".

A National Opinion Poll found that six months after chip and PIN's official introduction in the UK, 44 per cent of survey respondents have received replacements for all their cards.

Meanwhile 26 per cent of respondents have received some chip and PIN replacement cards, 12 per cent have received none - and 37 per cent are still waiting for their PINs.

Carl Clump, CEO of Retail Decisions, which commissioned the survey, said: "It is remarkable that after six months so many people are still awaiting their replacement chip and PIN cards."

Of the 1,000 individuals surveyed, 32 per cent said chip and PIN would fail to prevent card fraud.

Clump added that this segment is "fundamentally right". He continued: "Our figures continue to show that fraud is migrating towards CNP [card not present] transactions where fraudsters can bypass the need for a PIN number."

But a spokesperson for the Association of Payment and Clearing Systems (APACS) said chip and PIN was only designed to stop lost and stolen card fraud.

He said: "Chip and PIN hasn't been brought in to prevent card-not-present fraud. It will tackle lost and stolen card fraud, so [criminals] are now turning their attempts to card-not-present fraud. We've never said it will tackle card-not-present fraud."