The Law Dictionary

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CHIP AND PIN Definition & Legal Meaning

Definition & Citations:

UK-sponsored program for a new debt card system to authorize transactions using chip-implanted card and pin number. The card reader will access the stored information on the chip when the debit card passes through to compare that data to the pin number typed in by the user. The system is very similar to the standard debit card systems in other countries, and used throughout the UK.


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