Banking constantly evolves to keep pace with changing customer requirements and sustainability goals. In recent times, the Green PIN is the newest development in the banking sector to revolutionise the customer experience and simultaneously minimise paper wastage.
If you have a debit or credit card, you must know what a Green PIN is and how to generate it. In this blog, we will explore what is Green PIN and understand the Green PIN generation process.
When you obtain a debit or credit card, you need to activate it using a personal identification number (PIN). A Green PIN is a digitally generated code to help you activate your debit or credit card. This is a marked deviation from the traditional PIN, often mailed to the cardholder by the card issuer.
Since a Green PIN is generated online, it reduces the usage of paper required to print and send mailers. This makes it significant in the current age, when sustainability is taking centre stage and banks and other financial institutions are taking measures to minimise the adverse environmental impact of their operations.
Now that you know the meaning of this eco-friendly PIN, let’s get into the details of what Green PIN generation is and how you can do this easily. Green PIN generation is the process of creating and using a PIN for your debit or credit card, so you can activate the card and use it to make payments or cash withdrawals.
You can generate your Green PIN in several ways, as outlined below. The exact process may vary slightly depending on the entity that issued your card.
Using Green PINs to activate a debit or credit card has many advantages — both for the card issuer and the cardholder. Here’s a closer look at the top benefits.
This should give you a clear idea of what a Green PIN is and how it can be generated. If you have been issued a credit or debit card recently, check if the issuer offers this option because it is more sustainable and eco-friendly. Additionally, you must not share your PIN or OTP with anybody else.
If you want to contribute to a greener future, online banking with the Fi Money app can take you closer to this goal. You can open a Federal Bank zero-balance savings account online in 3 minutes via the Fi Money app. No paperwork and no hidden fees! By reducing the use of paper for your everyday banking transactions and services, you can do your part to reduce paper wastage and protect the planet.
A Green PIN is an instant digital PIN that is generated online for debit or credit card activation. It is considered green or eco-friendly since it minimises the usage of paper needed to print and share physical PIN mailers.
For cardholders, a Green PIN improves data security and allows for near-instant card activation. For financial institutions, the benefits include cost efficiency and improved goodwill on account of sustainable practices.
It is possible to generate a Green PIN via an ATM, SMS, missed call, IVR or internet banking. The process depends on the method you choose and the card issuer.
Green PINs are generally safe since they are only generated once you place a request. Additionally, they are directly sent to your phone or conveyed over a call.
Yes, your Green PIN can be used immediately after it is generated. However, it generally remains valid for 72 hours (or any other time limit set by your credit/debit card issuer).