Goodbye signatures, hello personal identification numbers (PIN). It is all systems go for the nationwide transition to PIN and Pay on 1 July 2017.
PINs will be mandatory for all transactions over the counter using credit and debit cards.
Today marks the end of the six-month grace period where cardholders and merchants were allowed signatures for transactions.
A smooth transition is expected, with most cards and point-of-sale (POS) terminals being replaced and a vast majority of cardholders using their PIN for payment.
Close to 23 million payment cards have been replaced, translating to 100% of credit cards and 98.5% of debit cards as of May.