芯片卡付款系统，智能卡付款系统（信用卡或借记卡上带有存储信息的微型芯片，付款时输入密码即可）a system of paying for sth with a credit card or debit card in which the card has information stored on it in the form of a microchip and you prove your identity by typing a number (your PIN) rather than by signing your name
Chip and PIN is designed to combat credit card fraud.