The end of Chip & PIN (already)!

If you’re worried about unscrupulous people peering over your shoulder at the supermarket and stealing your PIN number then read on …

The Japanese tech manufacturer Hitachi (NYSE: HIT) are to team up with a European banking group to introduce finger scanners as ID for transactions into Europe.

This won’t mean the end of PIN altogether – but it could add a much higher level of security.

Rather than studying your fingerprint, Hitachi’s infra red scanners study the pattern of the veins in your finger. This is believed to be much more effective than any form of voice or facial features – and much harder to copy than iris or fingerprint scanning.

Banks in Japan, including Juhachi Bank and Bank of Tokyo-Mitsubishi, have already started rolling out this technology on their cash machines as it is believed to considerably reduce fraud. And the Japanese Post Office is also getting in on the action.