Personal Identification Number (PIN)
Definition of 'Personal Identification Number (PIN)'
When you make a purchase with a card that requires a PIN, you will be asked to enter the number on the keypad at the point of sale. If you enter the correct PIN, your purchase will be approved. If you enter the wrong PIN, your purchase will be declined.
PINs are used to protect your card from unauthorized use. If someone steals your card, they will not be able to use it to make purchases unless they know your PIN. This is because the PIN is not stored on the card itself. It is only stored on the card issuer's computer system.
It is important to keep your PIN secret. Do not share it with anyone, not even your family or friends. If you lose your card, you should report it to the card issuer immediately. They will cancel your card and issue you a new one with a new PIN.
You should also be careful about where you use your card. Only use it at reputable businesses. If you are ever in doubt about the security of a business, do not use your card there.
By following these tips, you can help to protect your card from unauthorized use and keep your PIN safe.
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