Chip and Pin card
Unlike magnetic-strip cards, every time a Chip and Pin card is used for payment, the card chip creates a unique transaction code that cannot be used again; making them more secure against counterfeit and fraudsters.
What makes Chip and Pin cards better?
Other than the physical feature differences i.e. magnetic versus a chip, the other major difference is the user experience. For regular card users, the most obvious change will come in the form of how transactions are authenticated. Chip cards require the user to input a PIN number, rather than signing their name and comparing it to the signature on the card.
The Joy & Benefits of Chip and Pin cards.
- Safer transactions both using ATM and Point of sale machine
- A more thorough authentication process
- Reduced identity theft risk