While owner Greg Anderson had been on pins and needles ahead of August 1, when the phasing-out of signatures for credit cards started, his day ran like clockwork.

"In some respects it was almost like the Y2K bug, like 'oh my God the world will end' but it didn't end, the world is still here," Mr Anderson said.

"All the customers were aware of it and nobody had to leave. We didn't have any problems processing transactions and tips were OK, with people leaving cash or putting them on the credit card machine."

Consumers had been warned for months that they needed to know their personal identification number by Friday, but on the day a signature could still be used to verify credit card purchases at most places.

Lance Blockley, head of the Industry Security Initiative, the collective of banks and card providers behind the move to PIN, said less than 5 per cent of terminals had shifted to PIN-only on the first day.

Mr Blockley said it was impossible to know where signatures were still being accepted while the change takes effect, and consumers should still know their PIN to avoid being stranded at the checkout.

"The fact is, you could go to a merchant today which has had their point-of-sale terminal upgraded, in which case you would need to know your PIN but for the vast majority of places you could probably still sign," Mr Blockley said.

The transition to PIN-only authorisation, a move designed to reduce fraud, will occur over the next three months with merchants going live at different times.

About 1 million Australians – or 20 per cent of Mastercard and Visa credit and debit card holders – were still using signatures to verify purchases, Mr Blockley said.

"It was the same with the change over to digital television. Many people didn't change over until they were forced to, in their case the screen went blank," he said.

One of those leaving their preparations to the last minute was Sydney man John White who said he had always preferred signing on the dotted line when he used his credit card.

"I'm reluctantly going to go the bank this morning," he said on Friday. "It hasn't been a priority for me."

Also new to using a PIN-number was Lorraine Dickens, who said she stopped signing for purchases a week ago in preparation for the changeover. "I've got used to what I have to do now now, so I'll be fine," Ms Dickens said.

"I think I just felt more in control when I was signing. You see what you paid – you have your copy of your receipt, they have their copy of it."

Australian Retailers Association executive director Russell Zimmerman said the roll-out had not been as widespread as expected on Friday and that he had heard of no "major dramas" during the changeover.

More terminals will be upgraded to PIN-only on the weekend, but the biggest impact is expected to be felt when chains such as Coles and Woolworths phase out signatures.

Both supermarkets still allow signatures for customers who have not arranged a PIN. It is unknown when they will formally make the switch, but an announcement is expected soon.

The banking industry said there had been an increase in customers setting up PINs in recent weeks.

National Australia Bank reported 55,000 customers had changed their PIN between Monday and Thursday and that a phone line set up to handle inquiries had received about 10,000 calls over the same period.

More than 91 per cent of NAB customers now have a PIN on their card.

About 84 per cent of ANZ customers are PIN ready and Commonwealth Bank has put on extra staff this weekend to help customers.