Who bears the cost of fraud? Cards, pins and the NZ code of banking practice: the rising use of...

In the mid-1980s most bank customers paid for their groceries with cash or cheques. Credit cards were accepted by a limited number of retailers and certainly not by supermarkets. The internet was used by academics and scientists but e-commerce was the stuff of science fiction. Debit cards were still a novelty and the public regarded them with some suspicion.

At this time the first rules about the use and misuse of cards were drawn up, with card issuers eager to promote perceptions of the security and reliability of cards. If cards were to be more widely used, cardholde