Noun
chip and PIN (uncountable)
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 ownership of the card by inserting it into a machine and entering the PIN, which is compared with the one stored on the chip.
EMV is widely used in the UK ( Chip and PIN ) and other parts of Europe, but when it is not available in a specific area, cash machines must fall back to using the easy–to–copy magnetic stripe to perform transactions. Source: Internet
Laser adopted EMV 'Chip and PIN' security in 2002 in common with other credit and debit cards right across Europe. Source: Internet
Parallel to this will be the expansion into retail stores through a network of points of sales of about 30,000 units by 2015' Ireland Today, Irish debit cards are exclusively Chip and PIN and almost entirely Visa Debit. Source: Internet
Three consecutive contactless transactions are allowed, after which, the card software will refuse contactless transactions until a standard Chip and PIN transaction has been completed and the counter resets. Source: Internet