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Banks to miss Chip-and-Pin goal

Admit migration schemes unlikely to be completed next year

The Chip-and-Pin Programme Management Organisation (PMO) has said that the vast majority of the UK's 42 million cardholders should be using chip-and-Pin cards by the end of 2004.

But as the deadline approaches, its goal is starting to look increasingly unlikely.

Lloyds TSB and Halifax Bank of Scotland (HBOS) have announced that most of their customers will be chip-and-Pin enabled by that time, but both have conceded that it will probably be mid-2005 before they can update all of their cardholders.

News source: vnunet.com

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