chip and PIN(Noun)
A system for verifying that the bearer of a debit card or credit card is the owner, involving cards that contain a silicon chip storing the PIN of the card; the bearer confirms he is the owner of the card by inserting it into a machine and entering the PIN, which is compared with the one stored on the chip.
Chip and PIN
Chip and PIN is the brand name adopted by the banking industries in the United Kingdom and Ireland for the rollout of the EMV smart card payment system for credit, debit and ATM cards. The word "chip" refers to a computer chip embedded in the smartcard; the word PIN refers to a personal identification number that must be supplied by the customer. "Chip and PIN" is also used in a generic sense to mean any EMV smart card technology which relies on an embedded chip and a PIN.
The numerical value of chip and pin in Chaldean Numerology is: 5
The numerical value of chip and pin in Pythagorean Numerology is: 4
Sample Sentences & Example Usage
The simplest way to circumvent chip-and-PIN is to use a stolen card number to make an online purchase.
This is nothing new to us, since 2012, the card system has been based entirely on chip and PIN. Attacks carried out on the magnetic stripe technology are not transferable to smart cards.
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"chip and pin." Definitions.net. STANDS4 LLC, 2017. Web. 28 Apr. 2017. <http://www.definitions.net/definition/chip and pin>.