Chip and Pin

Chip and Pin

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Chip and PIN is the brandname adopted by the banking industries in the United Kingdom and Ireland for the rollout of the EMV smartcard payment system for credit, debit and ATM cards.Until the introduction of Chip and PIN, all face-to-face credit or debit card transactions used a magnetic stripe or mechanical imprint to read and record account data, and a signature for verification. Under this system, the customer hands their card to the clerk at the point of sale, who either "swipes" the card through a magnetic reader or makes an imprint from the raised text of the card. In the former case, the account details are verified and a slip for the customer to sign is printed. In the case of a mechanical imprint, the transaction details are filled in and the customer signs the imprinted slip. In either case, the clerk verifies that the signature matches that on the back of the card to authenticate the transaction.show more

Product details

  • Paperback | 136 pages
  • 152 x 229 x 8mm | 209g
  • Ject Press
  • United States
  • English
  • 6135979671
  • 9786135979671