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Chip and pin
Meaning
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
ownership
of the
card
by
inserting
it into a
machine
and
entering
the PIN, which is
compared
with
the one
stored
on the
chip
.
Sourced from
Wiktionary
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