Authorization – PIN code or signature?

Posted: August 18th, 2013 | Author: | Money

Each transaction that is done by using a payment card must first authenticated to prove that we are entitled to use this means of payment. The most common current method of authentication or authorization is to use a PIN code. In general, first obtain a PIN has already given, but we can change it at any time.

liewcf / photo on flickr

liewcf / photo on flickr

PIN consists of numbers and each card has a number, even if the transactions are authorized by signature. It is used among other things to collect funds from an ATM. In modern cards with a chip it is also used to confirm the ordinary purchases on the terminal. If you enter the wrong PIN the transaction will not be accepted. You should know that if you do not give the correct PIN three-times, your card will be blocked. You can quickly unlock it though the phone or during a visit at the bank branch. Most will have to enter the password for telephone contact and an employee of the bank will give him a new pin or it will be delivered using the web interface.

Less common, but also quite popular are verified signature cards. Keep in mind that the card was signed before making payment, because without a signature, it will not simply be valid and payment shall not be accepted. The signature is always printed on the terminal and the seller should compare the signatures. In addition, he should briefly check whether our personal data such as for example while man use the card, which is owned by a woman apparently (judging by the name). This transaction should not be accepted, although in practice the cases differ.

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