Belgian credit card issuer Bank Card Company (BCC) has introduced the first 60,000 smart credit cards in Belgium.
BCC plans to replace all credit cards in Belgium by the end of 2004. The new technology will make the credit card fraud almost impossible. Instead of signing a receipt, the cardholder will have to enter a Personal Identification Number (PIN) code to confirm the transaction.
Currently some 70 shops, including Ici Paris XL, C&A, Ikea, Free Record Shop and a number of restaurants in Belgium have a smart credit card terminal. Most shops will start introducing such terminals in April 2004.
BCC said that each shop should have a smart card terminal as of January 1, 2005, and it would not consider appeals for fraud from shops without a smart card terminal.
