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What is a personal identification number (PIN)?

per - son - al iden - ti - fi - ca - tion num - ber
noun

A Personal Identification Number or PIN, is a confidentia numeric code used as a form of authentication to verify the identity of an individual. When making purchase with a debit or credit card, cardholders often enter their PIN to verify their idenity and authorize the transaction. This is known as a "PIN-based" transaction, as opposed to a "signature-based" transaction, where a signature is used for verification. 

How does a PIN work?

A PIN acts as a confidential code created by the cardholder to authenticate their identity when engaging in various card-related activities. Whether a shopper makes a purchase, the PIN serves as a unique key. It's akin to having a personal secret code, known only by the cardholder, to protect their private information and financial assets.