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Universal basic income (UBI) [ note 1 ] is a social welfare proposal in which all citizens of a given population regularly receive a minimum income in the form of an unconditional transfer payment, i.e., without a means test or need to work. [ 2 ][ 3 ][ 4 ] In contrast, a guaranteed minimum income is paid only to those who do not already ...
ISO 9564. ISO 9564 is an international standard for personal identification number (PIN) management and security in financial services. The PIN is used to verify the identity of a customer (the user of a bank card) within an electronic funds transfer system, and (typically) to authorize the transfer or withdrawal of funds.
ISO/IEC 7813. International standard for cash cards and credit cards. ISO/IEC 7813 is an international standard codified by the International Organization for Standardization and International Electrotechnical Commission that defines properties of financial transaction cards, such as ATM or credit cards. [1]
Tokenization, when applied to data security, is the process of substituting a sensitive data element with a non-sensitive equivalent, referred to as a token, that has no intrinsic or exploitable meaning or value. The token is a reference (i.e. identifier) that maps back to the sensitive data through a tokenization system.
An individual’s PIN is the four-digit code they set after opening a debit account with their bank of choice. It is used as a layer of authentication when they perform an electronic transaction ...
Personal identification number. A personal identification number (PIN; sometimes redundantly a PIN code or PIN number) is a numeric (sometimes alpha-numeric) passcode used in the process of authenticating a user accessing a system. The PIN has been the key to facilitating the private data exchange between different data-processing centers in ...
The Chip Authentication Program (CAP) is a MasterCard initiative and technical specification for using EMV banking smartcards for authenticating users and transactions in online and telephone banking. It was also adopted by Visa as Dynamic Passcode Authentication (DPA). [1] The CAP specification defines a handheld device (CAP reader) with a ...
Mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device. Instead of paying with cash, cheque, or credit card, a consumer can use a payment app on a mobile device to pay for a wide range ...