ATM PIN will be required to complete Debit Card Transaction
All the debit card users have to mandatorily enter ATM PIN as a password while executing transactions involving their debit card. Till now transaction executed through debit cards were without any security check, but now users are required to insert their ATM PIN after vendor swipes card in the Point of Sale machine. This will add an additional layer of security over debit card transactions.
How the payment process will work?
* As soon as you are done purchasing, vendor will swipe your debit card at a Point of Sale machine that is PIN enabled.
* The vendor will then enter the amount of the bill.
* The Point of Sale machine will ask for the ATM PIN which is to be entered only by the ATM card/Debit card holder.
* Once the PIN is entered, the payment will be processed and the payment transaction will complete.
Important points to remember
* Card holders should not disclose or give their ATM PIN to vendors or any other person; they should enter PIN number themselves.
* Do not let any other see your PIN number you are entering.
* Never forget to take your debit card with you after the purchase.
* Change your ATM PIN in a regular interval.
Source: India Tax Updates
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