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Generation of PIN in Bank ATM would require?
- a)Acquirer validates information
- b)Acquirer sends response to the acceptor
- c)Authorisation request is sent to acquire
- d)PIN entered is encrypted
- e)None of the above
Correct answer is option 'D'. Can you explain this answer?
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Generation of PIN in Bank ATM would require?a)Acquirer validates info...
According to the question,
As given Generation of PIN in Bank ATM
In bank ATMs, the customer can generate the pin for their debit card by following certain steps like providing the account number, registered mobile number and the OTP generated once those details are entered. Once all these are verified, the user would be allowed to generate the pin of his choice, which will be encrypted once entered and added to the account of the specified user account's debit card.
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Generation of PIN in Bank ATM would require?a)Acquirer validates info...
Understanding PIN Generation in Bank ATMs
When you use an ATM, the process of generating and verifying your Personal Identification Number (PIN) involves several critical steps. However, in this context, the option regarding PIN encryption is key to understanding why option 'D' is correct.
PIN Encryption Process
- PIN Entry: When a user inputs their PIN at the ATM, the number is initially in plain text.
- Encryption: To protect sensitive information, the entered PIN is then encrypted using secure cryptographic algorithms. This means that the actual PIN is transformed into a coded format that cannot be easily read or intercepted.
- Transmission: The encrypted PIN is sent to the bank's systems for validation, eliminating the risk of exposure during transmission.
Role of the Acquirer
- Validation: The acquirer (the bank that owns the ATM) validates the information, including checking the encrypted PIN against stored data.
- Authorization Request: If the PIN matches, an authorization request is sent to the issuer bank to complete the transaction.
- Response Handling: The acquirer then processes the response and allows or denies the transaction based on the issuer’s feedback.
Conclusion
The critical aspect here is that while the acquirer plays a significant role in validating and processing the transaction, the initial and essential step of protecting the PIN during its entry is through encryption. Hence, option 'D' is correct because it highlights the necessity of encrypting the PIN entered at the ATM, which is a fundamental security measure in banking transactions.
When you use an ATM, the process of generating and verifying your Personal Identification Number (PIN) involves several critical steps. However, in this context, the option regarding PIN encryption is key to understanding why option 'D' is correct.
PIN Encryption Process
- PIN Entry: When a user inputs their PIN at the ATM, the number is initially in plain text.
- Encryption: To protect sensitive information, the entered PIN is then encrypted using secure cryptographic algorithms. This means that the actual PIN is transformed into a coded format that cannot be easily read or intercepted.
- Transmission: The encrypted PIN is sent to the bank's systems for validation, eliminating the risk of exposure during transmission.
Role of the Acquirer
- Validation: The acquirer (the bank that owns the ATM) validates the information, including checking the encrypted PIN against stored data.
- Authorization Request: If the PIN matches, an authorization request is sent to the issuer bank to complete the transaction.
- Response Handling: The acquirer then processes the response and allows or denies the transaction based on the issuer’s feedback.
Conclusion
The critical aspect here is that while the acquirer plays a significant role in validating and processing the transaction, the initial and essential step of protecting the PIN during its entry is through encryption. Hence, option 'D' is correct because it highlights the necessity of encrypting the PIN entered at the ATM, which is a fundamental security measure in banking transactions.
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Generation of PIN in Bank ATM would require?a)Acquirer validates informationb)Acquirer sends response to the acceptorc)Authorisation request is sent to acquired)PIN entered is encryptede)None of the aboveCorrect answer is option 'D'. Can you explain this answer?
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