chip and PIN - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “chip and PIN”

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chip and PIN

noun [U]
 
 
mainly UK COMMERCE, IT, BANKING
a system of paying for things using a secret number and a credit card or debit card that has an electronic chip in it: When the chip and PIN are used, a PIN number is entered instead of signing a receipt. a chip and PIN terminal
(Definition of chip and PIN from the Cambridge Business English Dictionary © Cambridge University Press)
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