PEAK retail industry body the Australian Retailers Association is confident the official change from signature to PIN for all scheme debit and credit card purchases will allow retailers to get on with the important job of doing business.

ARA Executive Director Russell Zimmerman said retailers will begin to see less fraud following the change to PIN-only purchases being made official today.

“Retailers are relieved to know that PIN is now officially the main form of card payment authorisation in Australia.

“The move to PIN is an important step to maintain a high level of integrity and security within Australia's card payment system.

“Not only is the move to PIN about strengthening payment security across Australia, this initiative will also help protect consumers and retailers alike from fraudsters. PIN is much more secure than signature - there is only a one in ten thousand chance of someone guessing your PIN.

“The real change for expanding PIN usage will be a behavioural one. Habits at point of sale will require some adjustment and consideration; however, it is a move that will help safeguard against fraud, making cards even safer to use.

“Consumers have been warned they risk being stranded at the checkout today if they have failed to memorise their credit and debit card PIN numbers or have not yet organised a PIN altogether. These consumers should contact their bank or card issuer immediately.

“Today’s official change-over marks the start of a three-month process to update 800,000 merchant payment terminals nationwide, rendering the signature obsolete.

“The ARA will be monitoring the success of this initiative very closely and we encourage all cardholders to embrace this change and enjoy the benefits of Australia’s highly secure card payment system,” Mr Zimmerman said.

Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

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PEAK retail industry body the Australian Retailers Association together with the Industry Security Initiative is encouraging cardholders to be prepared for ‘no PIN, no pay’ tomorrow - when PIN officially becomes the main form of card payment authorisation in Australia.

ARA Executive Director Russell Zimmerman said consumers have been warned they risk being stranded at the checkout when signatures for scheme debit and credit cards are replaced by PIN as of this Friday, 1 August 2014.

“Cardholders need to memorise their credit and debit card PIN numbers before they head out for lunch or try to purchase any goods this weekend. The ARA is urging all cardholders without a PIN to contact their bank or card issuer immediately.

“Retailers have been busy preparing for 1 August, when over the next three months, 800,000 merchant payment terminals nationwide will begin to undergo a software update, rendering the signature obsolete.

 “The move to PIN is an important step to maintain a high level of integrity and security within Australia's card payment system.

“Not only is the move to PIN about strengthening payment security across Australia, this initiative will also help protect consumers and retailers alike from fraudsters. PIN is much more secure than signature - there is only a one in ten thousand chance of someone guessing your PIN.

“This industry-wide change will save retailers both time and money, allowing them to get on with the important job of doing business,” Mr Zimmerman said.

Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

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PROFESSOR Ian Harper, chair of the Abbott Government’s Competition Policy Review and Dr John Hewson AM, former Liberal Party and federal opposition leader, will speak about the challenges facing small business, and discuss plans for the future with reference to the recent B20 summit and the government’s Competition Policy Review at next week’s National Small Business Summit (NSBS) in Melbourne 7-8 August.

The goal of the Competition Policy Review is to consider the state of competition in the Australian economy and how institutional frameworks and policy principles can be designed to strengthen the competitive process.

Professor Ian Harper will share an in-depth progress report of the Review.

“Small business issues have been the second most commonly raised topics in submissions to date.

“At the Summit, I will elaborate on major concerns submitted by the small business community such as market concentration, competitive neutrality issues and concerns about government, particularly in local government, having unfair advantages. I will also discuss the Review’s timetable, disclosing key opportunities for small business to continue their contribution to the Review,” said Professor Harper.

Meanwhile, Dr John Hewson will focus on the challenges facing small business in this uncertain world – both internationally and domestically, referencing the long awaited government’s tax reform white paper.

The 12th annual NSBS, hosted by the Council of Small Business Australia (COSBOA), provides a platform for small business representatives, senior politicians, bureaucrats and big business representatives to exchange ideas, opinions and experiences aimed to drive change and build productivity across the small business sector.

This year, the Summit has attracted yet another great line-up of high-profile speakers and attendees, also including Senator Bridget McKenzie; Ged Kearney, President of the Australian Council of Trade Unions; Tim Reed, CEO of MYOB; Brent Thomas, VP of Public Policy and Corporate Affairs – Australasia MasterCard Worldwide and Natalie James, Fair Work Ombudsman.

While COSBOA is focussed on key issues such as workplace relations; the collection of superannuation; contract law and competition policies, these exciting and passionate speakers provide specialist insights and information covering a diverse and comprehensive range of small business subjects.

For more information or to register for the 2014 NSBS visit:

www.nationalsmallbusinesssummit.com.au

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PEAK retail industry body the Australian Retailers Association together with the Industry Security Initiative is encouraging cardholders to make any last minute preparations before PIN officially becomes the main form of card payment authorisation in Australia as of this Friday, 1 August 2014.

ARA Executive Director Russell Zimmerman said consumers have been warned they risk being ‘stranded at the checkout’ when signatures for scheme debit and credit cards are replaced by PIN as of this Friday.

“Retailers have been busy preparing for August 1, when over the next three months, 800,000 merchant payment terminals nationwide will undergo a software update, rendering the signature obsolete.

“The ARA is urging all cardholders without a PIN to contact their issuer immediately. Not only is the move to PIN about strengthening payment security across Australia, this initiative will also help protect consumers and retailers alike from fraudsters. PIN is much more secure than signature - there is only a one in ten thousand chance of someone guessing your PIN.

“For retailers who are concerned about the old method of taking the credit card receipt to the customers, there are now mobile terminals that retailers can get from their bank which can be taken directly to the customer. For restaurants and cafes this means tips can be put into the terminal as either a percentage of the sale or as a fixed amount.

“We look forward to this industry-wide change that will save retailers both time and money, allowing them to get on with the important job of doing business,” Mr Zimmerman said.

Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041

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