PIN Required for All Credit Card Payments Starting from New Year
Starting from January 2011, every credit card payment in Lithuania, like in other European Union member states, requires validation through entering a PIN number. Until now payments in major supermarkets were commonly validated by client’s signature. This method, according to experts, had provided many opportunities for credit card fraud.
Smaller shops and cafes had been asking for PIN long before the new arrangements came into force.
The old-style magnetic cards without a chip will also be accepted, unless they are expired. However, the buyer will be asked to enter PIN if a PIN reader is established at the counter.
According to the data released by the Bank of Lithuania, more than 4.33 million payment cards are now in circulation in
Source: Association of Lithuanian Banks, Embassy of
