Pittsburgh-based PNC Bank, a member of The PNC Financial Services Group is offering EuroPay MasterCard Visa (EMV) chip cards with personal identification number (PIN) technology for its commercial customers.
The cardholder uses the PIN to complete transactions at a point-of-purchase (PoS) that requires PIN entry with a chip card, providing an added layer of security for the cardholder. In addition, the card provides a better user experience for those travelling internationally where PIN terminals are common, primarily at unstaffed kiosks, which require PIN authentication in many countries outside of the US
The chip and PIN card looks similar to a standard card with a magnetic stripe on its back. The card is fitted with a microprocessor chip that securely stores information. Encrypted keys are stored in the chip, preventing card cloning and reducing the risk of fraud. PNC’s chip and PIN card uses a unique key to unlock the data on the chip with each transaction.
“Enhancing security and convenience has been our focus since first introducing the chip card to commercial customers in 2011,” said James Graham, PNC Bank’s executive vice president (EVP) and head of treasury management. “As our commercial customer base grows and their business extends abroad, the addition of PIN verification was the next logical step in providing our customers with the means to meet their international needs.”
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