A CARD to help you remember the personal identification numbers of your other cards was launched in Ireland this week. The new card, called a PINCARD, itself requires the use of a PIN in order to unlock its secrets - however in its case the owner has to remember only one number and one letter.
The company launching the product, CPP, (Card Protection Plan,) has conducted research which, it says, shows that each cardholder in Ireland has, on average, four different PIN or security codes to remember.
The number of PIN codes people have to remember is likely to grow, according to CPP.
PIN numbers are now used in burglar alarm, mobile telephones, luggage, cars, charge cards and cash machines, says CPP, and new uses are being developed all the time.
The Pounds 2.95 PINCARD comes with a wallet, a clear plastic card, and a cardboard card. It uses a system of co-ordinates. Grids on the cardboard card can be used to store up to six different PINs. By placing the clear plastic card on top of the cardboard one and using your memorised PINCARD PIN, says CPP, you can work out the six hidden PINs.
According to the Irish Banks Information Service, card fraud in Ireland in 1994 stood at Pounds 1.6 million. More than 50 per cent of all card fraud claims involve misuse of a PIN, according to CPP.
There are presently over 1 million cards in circulation in Ireland, including credit, debit, retail, and travel and entertainment cards.
CPP are Europe's leading plastic card protection service, they say.
A card protection plan run by the company has 2.7 million policyholders. For Pounds 7 per year a cardholder who has lost or had his or her cards stolen, can report the loss of all cards to one central location. CPP then alerts all the relevant companies and arranges for replacement cards.
Policyholders are also covered against losses from the fraudulent use of their cards. There is a special assistance scheme for stranded travellers.
In Britain, according to CPP, there are 30 million credit cards in circulation. Pounds 1.3 million is spent per second using credit cards in Britain.
