Chip and PIN

Chip and PIN versus chip and signature

Chip and PIN is one of the two verification methods that EMV enabled cards can employ. Rather than physically signing a receipt for identification purposes, the user enters a personal identification number (PIN), typically of four to six digits in length. This number must correspond to the information stored on the chip or PIN at Host. Chip and PIN technology makes it much harder for fraudsters to use a found card, inasmuch as if someone steals a card, they are unable to make fraudulent purchases unless they know the PIN.