COMPUTER HARDWARE COMPONENTS FUNCTIONS
COMPUTER OUTPUT DEVICES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Magnetic stripe reader
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Chip and PIN reader
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None of these
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None of the above
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Detailed explanation-1: -Chip and PIN machines are point-of-sale (POS) terminals used to process credit and debit card payments. They are equipped with a card reader (chip and PIN) that reads the chip on the back of the card and prompts customers to enter their PIN code for verification.
Detailed explanation-2: -Similar to a magnetic stripe, EMV chips holds information needed to process a payment. But chip cards contain more information and all the data is encrypted on the microchip. The encryptions keep criminals from being able to use data reading devices and technology to steal the cardholder’s information.
Detailed explanation-3: -You enjoy the same 100% fraud protection on contactless payments as your normal Chip & PIN transactions. For security purposes, you’ll occasionally be asked to enter your PIN when making a contactless payment.
Detailed explanation-4: -The security built into this chip makes it harder to copy the information stored on the credit card, offering a safer alternative to traditional magnetic-swipe cards. In fact, credit cards with chips have reduced card-present counterfeit payment fraud by 76% from 2015 to 2018, according to Visa.