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.
Read more about Chip And PIN: History, How It Works, Crime Reduction, Conversion, Benefits, Banks' Liability, Vulnerabilities, Fraud, and Misuse
Famous quotes containing the words chip and/or pin:
“Look Johnny, Spig just joined the Navy. I’m married to it. I run the mess hall. I swab the deck. I chip the rust. You’re afraid that they’ll kick Spig out of the Navy. I’m afraid that they won’t.”
—Frank Fenton, William Wister Haines, co-scenarist, and John Ford. Minne Wead (Maureen O’Hara)
“It is not, truly speaking, the labour that is divided; but the men: divided into mere segments of men—broken into small fragments and crumbs of life, so that all the little piece of intelligence that is left in a man is not enough to make a pin, or a nail, but exhausts itself in making the point of a pin or the head of a nail.”
—John Ruskin (1819–1900)