Definition of chip and PIN in English:
A way of paying for goods by debit or credit card whereby one enters one’s personal identification number in an electronic device rather than signing a slip.
- The new chip and PIN credit card system could leave local businesses and retailers vulnerable to fraud bills because millions of customers still do not have their new cards.
- Tesco is one of the first UK retailers to embrace chip and PIN wholeheartedly and roll it out in all its stores.
- A similar effect has been observed following the introduction of chip and PIN credit cards, where ownership of the card and knowledge of the PIN is now almost always viewed as conclusive.
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