|
Post by controler on Nov 20, 2011 4:26:26 GMT -5
Instead of a magnetic stripe, Chip and PIN cards contain a miniature computer chip that stores information about your account. When you present your card to a merchant, or slide it through the card reader at the till, the cashier will ask you to enter a 4-digit PIN (personal identification number) to confirm that you are the proper owner of that credit card. That's all there is to it.
|
|
|
Post by obama007 on Nov 20, 2011 4:40:23 GMT -5
Many credit card companies have already started replacing old style credit cards with Chip and PIN cars. As of February, though, all new cards issued in the UK must be Chip and PIN cards. That means if you apply for a credit card, or if your credit card reaches expiry and is replaced with a new card, the card that you get will be one of the new Chip and PIN cards.
|
|