Chip-Based Transaction

on Sep20

Believed to provide increased transaction security, a chip-based transaction is one that is initiated by a chip embedded in a card rather than with a magnetic strip on the card. Processing time is similar, but authentication is provided automatically and does not rely on inspection of a signature, the visibility of an identifying hologram or other aspects of a manual inspection. Use of a PIN is also required in many cases.


Recommended to you

Previous postContact Transaction Next postElectronic Wallet/eWallet

Copyright© 2023, United Thinkers