PIN (debit card)

PIN

Product type	Debit card
Owner	BeaNet(1990–1994) Interpay(1994–2005) Currence(2005–2012)
Country	Netherlands
Introduced	1988 (as BeaNet) 1990 (as PIN)
Discontinued	2012
Related brands	Maestro V Pay

PINwas adebit cardbrand in theNetherlandsfrom 1990 until 2012, owned byCurrence.PIN was amagnetic stripe card,which never migrated to theEMVchip. It was therefore discontinued in 2012, after the switch-over from magnetic stripe authentication to EMV chip authentication in the Netherlands was completed. PIN was replaced byMaestroandV Paydebit cards, but as most PIN cards were already co-branded with Maestro long before 2012, consumers noticed little of the change.

Like in many neighbouring countries, the PIN debit card often doubled as acheque guarantee cardforEurochequeuntil those cheques were abolished on 1 January 2002. In contrast to its neighbouring countries (e.g.Belgium'sBancontactandGermany'sGirocard), the Netherlands has not operated a national debit card network since 2012.

History

In 1987, theDutch Central Bankinvestigated the possibility of merging the individual debit card schemes of the various banks in the Netherlands into a single system. This led in 1988 to the foundation of BeaNet, which provided a single network for all electronic payments and cash withdrawals in the Netherlands. Beginning in May 1990, merchants were provided with payment terminals linked to BeaNet, and in the autumn of 1990, BeaNet launched the PIN brand as the singular brand name for electronic payments in the Netherlands.

In 1994, BeaNet merged withEurocardNetherlands and Bankgirocentrale intoInterpay,which later becameEquens.Because of increasingly stringent laws and regulations in the areas of competition and transparency, Interpay decided in 2004 to move all itspayment systemsinto a separate company calledCurrence.Currence took over PIN in May 2005.

In the early 2000s, Currence aligned PIN with the regulations of theSEPACards Framework (SCF). A few years later, Currence decided not to move PIN to theEMVchip. As a consequence, PIN disappeared as a product on 1 January 2012, when the infrastructure formagnetic stripe cardswas shut down in the Netherlands.

In popular culture

After a successful advertisement campaign in late 1990, PIN quickly became synonymous withdebit cardpayments in the Netherlands. Already in 1992,Van Daleadded theverbpinnen,meaning "to pay by card", to its dictionary.Other successful campaigns included the card security-oriented campaignJullie mogen alles van me weten, behalve mijn pincodewith Dutch singerRob de Nijsand the campaignKlein bedrag, pinnen mag( "Small amount, PIN allowed" ), after the demise ofChipknip.