What is the PIN?
The “PIN” or the “Personal Identification Number” is a set of personal numbers used to prove positive identification. And it’s often used with automated bank teller machines, telephone calling cards, and accessing Wireless networks, and here specifically, the “PIN” is a security code that belongs to you, provided with the Debit Card or Cash Cards to maintain the security level of its holder and his/her credit inside.
How to Activate the PIN?
There are several types of cards like debit cards and E-purse cards (Cash Cards), in the case of a Debit card when you receive one from the bank, you also receive a 4-digit number that represents your password (also known as the PIN), and you can change it to a new 4-digit number that you will remember. In the other case, E-purse cards doesn’t obtain a PIN when you first get it, so in order to generate a PIN, you need to activate your card through an SMS message, after the activation and registration, your cards the E-purse card automatically generate a default PIN (0000), then you need to enter your card in an ATM and you are required to change it to a 4-digit number of your choice before you start your transaction, this 4-digit number is considered as your PIN.
What is the importance of PIN?
The importance of the PIN lies in providing security when you use different channels (ATM, POS, Etc.) To perform different services (Cash out, P2P, Balance inquiry, Etc.), howsoever this PIN only works in closed network meaning that it is not used for online transactions whatsoever.
To increase the security of the card it is programmed to be locked after entering the PIN wrong more than 2 times, so make sure to enter the right PIN number. In Case it is locked you need to refer to the bank that issued your card in order to re-open it after making sure that you are the right owner. To help maintain your security make sure that you don’t leave your card lying around with your PIN or being written down.
What is IPIN?
The iPIN is an abbreviation that refers to “Internet Personal Identification Number”, this is a password provided for the card holders to help them view their accounts and perform transactions online.
After you create your PIN, if you wish to use any transaction online, an IPIN needs to be created which provides more security for your card and an extra confirmation that you are the actual card owner in order to avoid online security risks.
How to Activate the IPIN?
In case of both Debit and E-purse cards the IPIN Generation is done through ATM or applications, it consists of 4 digit number of your own choice. Unlike the PIN the IPIN is used for online networks.
What is the importance of IPIN?
To increase the security of the card it is programmed to be locked after entering the iPIN wrong more than 2 times, so also make sure to enter the right iPIN number. In Case it is locked you need to refer to the call center number at the back of your card in order to re-open it after making sure that you are the right owner. To help maintain your security make sure that you don’t leave your card lying around with your iPIN or being written down, also it is recommended that you use different combination of numbers for both the PIN and iPIN so you don’t make it easier for the people to guess.
What is the difference between the PIN and iPIN?
The PIN is provided to keep your Transactions that are made inside a closed network safe, which means that you use your actual card in the transactions and the service is delivered directly to you.
In case of open network such as the Internet, the iPIN is used, in order to perform any online transactions you need to enter your card number and expiry date to perform your transactions online.
Why generating two passwords?
Your personal PIN is the most sensitive of all payment related data. With your PIN (and card information of course), someone could not only make fraudulent purchases, they could also drain the cash out of a linked checking account. As such, everyone in the payments-chain implements very strict security protocols around protecting your PIN. Also Malware is a reason for using two different PINs. Malware can capture what’s on your screen, every keystroke on your keyboard, etc. Since there isn’t a way to “guarantee” that your (cardholder) device is 100% free of malware that adds another level of complexity/risk to collecting a PIN on an unsecured/unencrypted device. So the short answer is, your PIN number isn’t collected online in order to protect your PIN number from being stolen by bad actors.
So for us to be able to use our payment transactions online, the iPIN is set as a different PIN to be used for that matter, and each password (the PIN and the iPIN) works on a different network in order to help provide more security to your information, transactions and cash.
Never share your PIN with anyone. Remember it. Do not keep it in your wallet or on your card.