A personal identification number (PIN):
A)authorises the transaction
B)verifies the transaction
C)settles the payment
D)authorises and verifies the transaction
E)authorises and verifies the transaction and settles the payment.

Question

Quizplus · Accepted Answer

A personal identification number (PIN) is used to both authorise and verify a transaction. It does not, however, settle the payment, as this is usually done through a separate process involving the transfer of funds from one account to another. Therefore, the best choice is D, "authorises and verifies the transaction."

A Personal Identification Number (PIN)