Business

All about CVV of credit card

Acronyms and abbreviations surround us. Often, many of them are overlooked and others we can’t even say very well what they mean. But knowing them will help us to understand a little more what they define, as well as their usefulness and operation.

Let’s look at credit cards this time. Have you ever wondered what exactly is CCV or CVC? What is it for? Because it is important? Do you need it and don’t know where to consult it? We clear your doubts.

Card Verification Value

CVV stands for Card Verification Value: a numerical security verification code, consisting of three or four digits, linked to a credit card. Some debit cards also have it.

There are companies that call this security code CVC ( Card Verification Code ), CVD ( Card Verification Data ), CVN ( Card Verification Number ), CSC ( Card Security Code ) or CVVC ( Card Verification Value Code ). But they are simple names, since they all refer to the same thing. This is the name that each company gives to that set of numbers, although most use the initials CVV or CVC.

Types of CVV

CVV can be of two types. The CVV Type 1 is the one whose code is in the magnetic stripe of the card and is read by readers of establishments (Terminal POS, TPV), automatically, when we introduce them to make a purchase or receive a refund. As consumers, we are not aware of its use.

The one that we are aware of using, often essential for our operations over the Internet, is the CVV type 2, which is located on the front or back of the card. Every time we make a transaction with this electronically, the seller, organization or company can request that we indicate the CVV numbers in the corresponding box enabled for this purpose, on the virtual POS, to make sure that we are the cardholders and we have it in hand when performing the operation. Its purpose is, therefore, to avoid fraudulent uses with it. This is the code we refer to generically when talking about CVV.

Visit here: wcowlnews

How to know the CVV of your card

Cards such as Visa and MasterCard, which have a three-digit CVV, show it on the back, the final three numbers being located on the strip where you must sign it or next to it. In the case of American Express cards, whose CVV is four digits, you will find it in relief, located on the right, on the front, in isolation. On American Express, the CVV is often called a CID (Card Identification Number).

However, you must bear in mind that the need to include these digits or not in Internet transactions is not mandatory in all countries, so you can find electronic commerce companies (e-commerce) that do not require it.

You should also know that, while the card number remains unchanged over time, each time we renew it, whether due to replacement or loss, the CVV is modified. You should not give this code to anyone and you should only use it on websites that are safe and reliable CVV Shop. Keep in mind that with the card number and the CVV it is very easy to clone it, impersonate you and make all kinds of transactions on your behalf, so cybercriminals look for all possible ways to get those three or four digits.

read more  : expressdigest

Related Articles

Leave a Reply

Back to top button