Chip and PIN

Chip and PIN is a method of verifying a cardholder’s identity during an EMV chip transaction. Instead of signing a receipt, the customer inserts their chip card into a terminal and enters their four-digit Personal Identification Number (PIN). This provides two layers of security: something the customer has (the chip card) and something the customer knows (the PIN).

Frequently Asked Questions (FAQs)

• Is Chip and PIN more secure than a signature?
  Yes, it is generally considered much more secure. A PIN is a private code, whereas a signature can be easily forged.
• Is Chip and PIN common in all countries?
  It is the standard in most parts of the world, including Europe, Canada, and Australia. In the United States, Chip and Signature is more common, though PIN usage is growing, especially for debit transactions.
• Can I accept Chip and PIN payments with Charge for Stripe?
  No. The Charge for Stripe app uses your phone’s NFC for contactless (Tap to Pay) transactions or allows for manual card entry. It does not support inserting a card to use a physical chip reader, which is required for a Chip and PIN transaction.

Related terms:

• EMV
• Card-Present Transaction
• SCA (Strong Customer Authentication)