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In January 2009, MasterCard acquired the controlled payment number system developed by Orbiscom, a Dublin-based payment processing company. [2] In the United States, the system is used by the following credit card issuers: Bank of America "ShopSafe" (inherited when it acquired MBNA) (and now discontinued-see below) [3] and Citibank "Virtual Account Numbers". [4]
When the user makes a payment to a merchant, Google Pay does not send the actual payment card number. Instead, it generates a virtual account number representing the user's account information. [3] Google Pay requires that a screen lock be set on the phone or watch. [4]
Primary account number (PAN) — up to 19 characters. Usually, but not always, matches the credit card number printed on the front of the card. Separator — one character (generally '=') Expiration date — four characters in the form YYMM. Service code — three digits. The first digit specifies the interchange rules, the second specifies ...
By using a PIN, card or account holders can: Prevent potential fraud from happening to a bank or credit card account Have easy access to electronic payment systems across the country and the world
A personal identification number (PIN; sometimes redundantly a PIN code or PIN number) is a numeric (sometimes alpha-numeric) passcode used in the process of authenticating a user accessing a system. The PIN has been the key to facilitating the private data exchange between different data-processing centers in computer networks for financial ...
PAX Technology S90 credit card terminal with a Visa card inserted.. A payment terminal, also known as a point of sale (POS) terminal, credit card machine, card reader, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly" [1]), is a device which interfaces with payment cards to make electronic funds transfers.
Prepaid debit card, a card that debits money from an associated account that ordinarily requires use of a PIN code for verification; Prepaid credit card, a card that debits money from an associated account that ordinarily uses a signature rather than a PIN for verification; Stored-value card, a card that has a monetary value that is recorded as ...
ISO 9564 is an international standard for personal identification number (PIN) management and security in financial services.. The PIN is used to verify the identity of a customer (the user of a bank card) within an electronic funds transfer system, and (typically) to authorize the transfer or withdrawal of funds.