From August 1, shoppers will no longer be able to put pen to paper as a form of verification for their credit and debit cards.

The gradual phase-out, which is set to hit bigger retailers first, will see software on about 800,000 payment terminals changed to PIN only.

Regardless of age, it appears most of us have become accustomed to punching in the four digits.

Wagga resident Peter Gooden, 85, isn't fussed by the phase-out.

"I'm happy to do it (use a PIN), it might save a bit of time," Mr Gooden said.

"I've had a PIN for a long time."

Fay King, also from Wagga, echoed the sentiment.

"If it means better security, I think it's probably a good idea," she said.

Contactless transactions - such as Visa's payWave and MasterCard's PayPass - where cards can be swiped for purchases of less than $100 will be unchanged.

PINwise, an initiative of the Australian payments card industry, has been set up to encourage the use of a PIN rather than a signature.

According to PINwise, using your PIN for credit and debit card purchases at point of sale is safer and faster than signing.

"There is only a one in ten thousand chance of someone guessing your PIN," the PINwise website said.

For more information visit www.pinwise.com.au and for a new PIN contact your bank or card issuer.