![]() This works just like your debit card PIN. ![]() The “PIN” in the phrase refers to a 4-digit PIN you can set up for your credit card that is required when you go to make a purchase. It’s a much more complicated piece of technology that’s harder to steal from or manipulate. The microprocessing chip both stores your data - and does a better job protecting it than cards without the feature. Chip-and-PIN authentication is one way the tech works to protect you. The idea behind chip-and-PIN authentication started with Europay, MasterCard, and VISA - and for that reason, credit cards with the technology are also called EMV-chip cards. ![]() There are several ways the chip (and PIN) works to achieve this goal. The “chip” in chip-and-PIN refers to the microprocessing computer chip embedded into the card.Īgain, this is a security feature designed to safeguard your information and prevent credit card fraud. What is it and How Does it Work?Ĭredit cards featuring chip-and-PIN authentication look almost identical to cards without it. If you’re not sure what chip-and-PIN authentication is, read on and learn why this is a beneficial security measure that will help keep your information safer than cards without this technology. You don’t know why all your credit card companies sent you new credit cards with fancy little computer chips embedded on the front. The chip scrambles transaction data while also requiring a PIN to authorize the transaction.īut maybe you still feel like I did. Quick answer: Chip and PIN authentication is a security protocol available through a chip embedded in a credit card. I felt this way until I understood the actual point of chip-and-PIN authentication: it’s to keep your credit card more secure and safe from fraud and data breaches. In fact, I actively avoided it for a while. When I did see card readers that required you to stick your credit card into them before sitting and staring at the screen for what seemed like a very long time, I didn’t get it. In Europe, chip-and-PIN credit cards are the standard - for roughly 10 years now. Comprehensive Coverage Options Ways to Lock in Lower Homeowners Insurance Premiums How to Choose the Right Life Insurance Policy Compare the Different Types of Health Insurance Plans Popular Reviews Progressive GEICO State Farm AIG Allstate Banking Best Products Best Savings Accounts Best Checking Accounts Best CD Rates Best Money Market Accounts Best Business Checking Accounts Best Student Checking Accounts Calculate Checking Accounts 101 Emergency Savings Calculator Compare CD Rates Checking Accounts Personal Loans Best Products Best Personal Loans Best Debt Consolidation Loans Best Home Improvement Loans Best Medical Expenses Loans Calculators & Guides Personal Loans Calculator Guide to Personal Loans Guide to Refinancing Student Loans How to Consolidate Credit Card Debt Popular Reviews Upstart Payoff Sofi Lending Club Investing Best Products Where to Invest Money Best Brokerages Best Robo Advisors Read & Learn Investing 101 How to Buy First Stock How to Invest in Mutual Funds How to Pick a Financial Advisor How Much to Save for Retirement Popular Reviews Betterment Merill Edge Wealthfront Insurance Best Products Best Auto Insurance Best Home Insurance Best Life Insurance Best Health Insurance Read & Learn Figure Out How Much Auto Coverage You Need Collision vs.
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