Every credit card has a golden chipset engraved into them. This chipset contains all the information about the card and acts as the interface for transactions. Card numbers and PIN act like keys to the complex information stored in the chipset.
source https://www.caclubindia.com/articles/who-liable-for-credit-card-fraud-44934.asp
source https://www.caclubindia.com/articles/who-liable-for-credit-card-fraud-44934.asp
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