There are four reasons for deploying authentication caching:
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It adds convenience, especially when the Smart Card is used by multiple applications.
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It inhibits the transmission of PINs accross the network during remote system access. See Component Design section (Section 4.3, “Component Design”) for details.
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It reduces risk of PIN exposure to onlookers by decreasing the number of times card holder authentication is performed.
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It allows implementation of centralised Smart Card related policies that are enforced for all applications. Caching in itself is just an aspect of such a policy.