CORDELIA MOLLOY / SCIENCE PHOTO LIBRARY CORDELIA MOLLOY / SCIENCE PHOTO LIBRARY
Chip and pin. Credit card being used in a chip and PIN machine. The credit card contains a microchip that holds the card's PIN (personal identification number). To complete a transaction the card is inserted into the machine, the cardholder then types in their PIN which is checked against that held on the chip. Chip and PIN was introduced in 2006 to prevent card fraud.
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