E&Y first round interview( a commercial awareness question)

#1

I attended the first round interview of E&Y. There was a question like:
When the chip& pin technology firstly came to credit card, the supermarket was worrying this new way. What were their concerns?How will you elimiate their worries?

An answer was: when people forget their pin number on the till, they might just go away, which is a lost of revenue.

Anyone can think of other answers?

#2

A possible concern at the time might be requiring to adapt the technology at tills & supermarket network infrastructures to work with chip&pin… with the uncertainty as to whether the chip&pin would stay long term. This could problem could be minimised by implementing future proof IT solutions, where only certain areas would need replacing rather than an entire setup.

Another…with no requirement to sign, and only to know the pin for user authentication, it runs the risk of fraud…people may try to overlook and recognise your pin, then steal the card. With the card in hand & the pin…there is no other authentication and they can spend away, whereas before at least they would have to sign (though not secure method anyway). This can be minimised by raising awareness into hiding your pin and covering as you enter it.

Another possible concern is that other family members may pay using a different family members credit card. This is not allowed, however what’s stopping them if they tell each other the pin and give the card. Hard one to counter unless the system is changed, with chip&pin the only way is to provide another form of ID stating the same name as what’s on the card, or to sign anyway. This wouldn’t happen though as it prolongs the process and would form a significant impact on queue times.

just my thoughts!