Chip and Pin 'blindness'

The scenario has become familiar to many since the introduction of Chip and Pin. You go to pay for something, get out your wallet or purse full of credit and debit cards, but after a moment's hesitation opt to pay with the only card for which you can confidently remember the pin number - even if it was not the card you ideally wanted to use.

This new phenomenon has been termed 'Pin blindness', and millions of adults are suffering from it because they have so many passwords and security codes to remember.

Adults have an average of two Pins plus eight passwords and usernames to remember, according to research by financial services marketing company Teamspirit.

Yet only six in ten people could remember two passwords or access codes unprompted, with the figure falling significantly when people were asked to name more than two

And separate research by Saga Visa Vard shows that issues with Pin numbers are directly affecting the way we use our credit and debit cards.

Over three quarters of people have different Pin numbers for each of their cards, and since the introduction of Chip and Pin this has led one in seven people to stop using one or more of their cards.

According to the Teamspirit survey, people are writing down their security codes and Pins - presenting a major security risk.

Eight per cent of people kept their Pin next to their credit cards in their wallet or purse.

Chip and Pin, whereby consumers key in a Pin number rather than sign in order to complete a card transaction, was introduced into the UK to reduce credit and debit card fraud.

Currently consumers have the fall back option of being able sign to complete a transaction if they do not know their Pin number.

But by the end of 2004 most credit and debt card transactions will only be completed by keying in a Pin number.