This has followed years of work with the SA Reserve Bank and the local banking industry, which since the late 1990s has looked to introduce the 'Chip and Pin' cards to SA.

Standard Bank's launch follows Absa's release of its Visa chip-enabled debit cards this week ? the first bank to offer the cards to customers.

Know your pin

These Visa branded cards are capable of supporting multiple applications and data securely and can make cardholder-specific decisions, such as approving or declining transactions.

For Standard Bank's credit cards, the new technology means that you will need to know your pin in order to purchase goods ? giving you increased peace of mind. When buying your goods, you'll be required to key in your pin number at the normal point of purchase, and the rest of the transaction will continue as normal.

The Absa debit card-process remains much like it currently is, with customers also having to know the pin number in order to make a purchase, according to Walter Volker, Absa's general manager of group payment systems. Volker adds that chip enabled credit cards will also be made available later this year.

Security leap

The importance of using this common standard enables customers to use their 'Chip and Pin' cards at all point of sale devices, ensuring inter-operability and a consistent customer experience. Most local banks are now 'Chip and Pin' ready.

According to Doug Walker, director card at Standard Bank: "These cards present a further leap forward in customer convenience, choice, product options and security."

With these cards, if they are lost or stolen, it will be difficult for criminals to duplicate the secure chip on the card, thereby reducing the risk of fraud.

The cards also present the opportunity for new applications like instant rewards at the point of purchase as well as multiple accounts on one card, reducing the number of cards held in your wallet or purse.