Which process encompasses the encoding and embossing of payment cards?

The process that encompasses the encoding and embossing of payment cards is known as Card Production. This is a critical step in the lifecycle of a payment card, whereby the card is physically created and personalized for the cardholder. During Card Production, important data such as the cardholder's name, card number, expiration date, and security features are embossed onto the card's surface. Additionally, the card's magnetic stripe or chip is encoded with relevant account information, allowing for secure transactions.

Other options relate to distinct aspects of card usage and management. The issuance of a PIN to the cardholder involves providing the cardholder with a Personal Identification Number that is used for authenticating transactions, but it does not involve the physical creation of the card itself. Card Verification refers to processes that confirm the authenticity of the card during transactions, often to prevent fraud and ensure that the card is being used by the legitimate cardholder. Card Activation is the process by which the cardholder enables their card for use, often following receipt of the card but still does not pertain to the physical production of the card. Therefore, Card Production is the most accurate choice for the described process.