There was a time, back around the latter half of the Twentieth Century where it was felt, primarily by Americans, that all the good stuff was invented and built in America. Like superhighways, though the Germans had built the autobahns first, in the Thirties, and unlike on superhighways, you can zoom along at a zillion miles an hour, or 1.6 zillion kilometers per hour, if you’re European and have accepted a rational scheme of measurement, like the metric system. Not that’s there’s anything wrong with clinging to the English system of measurement, especially if you’re going to be tithing the King a few hundredweight of barley, in lieu of this year’s taxes. Oh, wait.
Short history lesson. Americans invented the credit card. They started out as paper cards, which were easily duplicated, so eventually the banks moved to plastic with embossed numbers. Since these only took slightly more effort to counterfeit, the banks eventually added magnetic strips. And that’s where things are today in America. Europeans have decided to go a little further. They added a microchip to credit and debit cards. Instead of swiping the magnetic strip and then signing a receipt, you just insert the card, enter a PIN on the keyboard of the scanner, and you’re done. Thus, the name for these cards is Chip and PIN.
The advantages of the Chip and PIN system are, primarily that it’s much more secure than the old mag-strip. And it’s quicker and easier to use on a day-to-day basis, so easy, indeed, that it’s replacing the old system of swiping cards wholesale.