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how to get credit card pin

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Getting credit card PIN for online transactions as per new RBI regulation

If you are a credit/debit card user and you haven’t yet got a PIN then you may not be able to do transactions from August 1st 2009 onwards. Brace yourself for an extra safety layer for card transactions.


The RBI has issued a directive to credit and debit card issuing banks asking them to provide additional security measures for card transactions with an objective of combating fraudulent transactions. As per the RBI all online transactions would need an extra security code which is in addition to what is visible on the card viz card no., expiry date and CVV (Card Verification Value). The directive also mandates banks to put in place a system for online alerts. This system would send alerts for ‘card not present’ transactions exceeding Rs 5,000. The banks would be liable of penalties under the Payment and Settlement Systems Act 2007 (Act 51 of 2007) in case of non-adherence. Transactions where card and card holder are not present at the point of sale or are done through internet or telephone are known as ‘Card not present’ transactions.


What do you need to do to get the PIN?

  • Do not wait for your bank to contact you.
  • Login to your bank’s website and register your card.
  • Fill in information like name, billing address, 16 digit card no. and CVV
  • Some banks might want you to fill some information which is not on the card
  • If the information provided is found to be correct the bank will ask you to choose a PIN or some other alphanumeric password
  • Some merchant sites are redirecting to the bank’s site for getting PIN.
  • Contact phone banking in case of any doubt.

At InvestmentYogi we discourage using cybercafés and public computers for making online transactions using cards. Happy shopping!

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