LOCAL small businesses are reminded to be PIN ready in the lead up to significant changes to credit and debit card transactions.
From Friday, August 1, all transactions made in person with Australian-issued credit and debit cards will require a PIN to complete the transaction, with signatures no longer accepted.
There will be no change to contactless or online transactions and signatures from overseas visitors will still be accepted as a valid form of authorisation.
The move from signatures to PIN has been broadly welcomed by the business community as it will strengthen payment security, reducing the chances of credit and debit card fraud and make transactions faster to complete.
For more information on how to be PIN ready visit www.pinwise.com.au/