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| Business of Information Technology > Business Environment > Financing > |
Credit Cards
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ALSO CALLED: Bank Credit Cards and Charge Cards
DEFINITION: Chip and PIN is a UK government-backed initiative to implement the EMV (short for Europay, Mastercard and Visa) standard for smart payment cards. A similar effort is also underway in the Republic of Ireland. The name of this initiative stems from the presence of a semiconductor chip
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Cisco PCI Compliance Advisor
| sponsored by Cisco Systems, Inc.
SOFTWARE DEMO:
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Posted: 07 Aug 2008 | Published: 01 Aug 2008
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CREDIT CARDS DEFINITION (continued): … and associated circuitry in the smart card, which is used in tandem with a PIN (personal identification number) . In use, the smart card is placed into a PIN pad terminal or modified swipe-card reader, which accesses the chip in the card. The user enters a 4-digit PIN that is checked against the information stored on the card. If the entered PIN matches the stored value, the transaction is permitted to proceed. Chip and PIN went through a pilot test …
Credit Cards definition sponsored by SearchSecurityUK.com, powered by WhatIs.com an online computer dictionary
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