Chip and Pin debit and credit cards

Chip and Pin credit card and debit card system is a government backed initiative in the United Kingdom and also in other parts like Ireland, where a magnetic reader is used to swipe the cards that can be used to either credit or debit the money at the point of sale or refund.

Until this was introduced, all credit and debit information carried in a credit card used a magnetic imprint system along with a handwritten signature accompanying it for the purpose. With the introduction of a chip and pin system , the strain was greatly reduced. But it has got a reasonable number of technological security flaws, especially at the hands of expert technical racketeers.

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