The value of PIN entry is to protect against fraudulent use if is the card is
lost or stolen.
PIN verification is done inside the smart card. The chip will "ask" the merchant terminal for a PIN before it will allow the data on the card to be read. Once the PIN is entered and verified by the smart card chip, payment authorization can proceed.
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Gemalto
Clarista payment cards
Proven and efficient payment cards for your EMV deployments.