February 2016 saw the 10th Anniversary of chip & PIN in the UK.
Over this last decade, chip & PIN has become an integral part of the way we make payments. Chip in PIN cards were first tested in the UK in 2003, when Barclaycard carried out the biggest trial of chip & PIN cards in the world.  The trial was a success and the technology was made available to the wider public a year later, however it was only in 2006 that all transactions became mandatory chip & PIN compliant.
Previously, card transactions were authenticated by signing on a piece of paper to authorise a payment. This method was not very secure and had resulted in rising levels of counterfeit and stolen card fraud in the UK. For card transactions to flourish, consumers needed to be more confident in using their cards for transactions. Without chip & PIN, if your card was lost, then it could very easily be used to make transactions and this was worrying for consumers.
Chip & PIN was a great success in the UK, with consumers being very receptive of the new technology.
By the end of 2006, 130million chip & PIN cards were issued in the UK and the popularity of cards increased as consumers became more confident in making card payments, and more retailers began accepting them.  Card payments now account for three out of every four pounds spent on the high street, an increase of 42% from before Chip & PIN.
The shift towards Chip & PIN has helped reduce fraud by 13% in the first year, and these reductions have continued ever since, with counterfeit card losses reduced by 63% between 2004 and 2014.
Chip & PIN gives card holders the peace of mind, that if their card is misplaced or stolen, their money is still protected. 
The key to the success of chip & PIN has been due to its simplicity and ease of use. Consumers do not have to remember long and complex passwords, nor do they have to carry anything with them aside from their bank card.