chip and PIN

noun

1. 1. a system for processing credit cards requiring the customer to enter a unique identification number instead of a signature to authorize a payment
   2. ( as modifier )

      chip and PIN transactions

Word History and Origins

Origin of chip and PIN¹

C21: chip (sense 8) + PIN

Example Sentences

But now that US banks are finally switching to chip and PIN cards, the market for magstripe is clearly dwindling.

From BBC

But now that US banks are finally switching to chip and PIN cards, the market for magstripe is clearly dwindling.

From BBC

Under the proposals, debit card payments will require authentication, such as chip and PIN or biometric verification of the type used for Apple Pay.

From BBC

There will also be enhanced cleaning procedures onboard trains and at stations, especially focused on cleaning door buttons, grab handles, tables and all touch points, as well as equipment like phones, chip and pin machines, self-service ticket machines and point of sale systems.

From BBC

“Part of the challenge has been lethargy. We’ve seen that with chip and PIN in the U.S.,” says Mr. Stickland, referring to the card industry’s ponderous transition away from requiring signature-based payments.

From Wall Street Journal