A card PIN (Personal Identification Number) is a secret numerical code associated with a payment card used to authorize transactions.
In more detail:
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Purpose: The primary purpose of a PIN is to provide an extra layer of security for electronic transactions, ensuring that only the cardholder can use the card. This helps prevent unauthorized use if the card is lost or stolen.
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Functionality: A PIN is typically required when using a debit or credit card at ATMs (Automated Teller Machines) to withdraw cash or when making purchases at point-of-sale (POS) terminals.
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Security: The PIN is usually encrypted and stored securely, either on the card's chip or by the card issuer. It's crucial to keep your PIN confidential and never share it with anyone.
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Format: Card PINs usually consist of four to six digits, although this can vary depending on the card issuer and region.
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Verification: When you enter your PIN at a terminal or ATM, it's compared to the stored PIN to verify your identity. If the PIN is entered incorrectly multiple times, the card may be blocked for security reasons.
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Alternatives: In some cases, contactless payments or other forms of authentication (like biometrics) may be used instead of a PIN for certain transactions.
