Usually, applied in small value purchases (>100$) with POS Credit Card payments is raising on popularity.
A Brief Concept:
You decide to pay for a dinner with your card, usually at cheap restaurant, airport or tourist location.
Waiter skips the step of entering the amount, and proceed to ask you to enter your pin.
You enter your pin, which is very likely to be more then an order by a probability (unless it starts with 00) and push the green button.
After a small waiting, he prompts you to try again because of failed transaction.
You enter your PIN once again, actually confirming your transaction for the amount equal to your PIN.
Chargeback? Unlikely, since you authorized the transaction, probably without even keeping a copy of your bill. If additionally asked to sign, be sure to double check :)
BONUS / how to scam a scammer:
Noticed there is no "Enter PIN" prompt? Just enter 0001 and watch the face after a receipt :)
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