What is the full form of CVV?
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What is the full form of CVV?
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The full form of CVV is the Card Verification Value, it is also known as card verification code (CVC) or card security code (CSC). CVV is security features in credit, debit and ATM cards provide by the banks. It is a combination of three digits of a number printed on the backside of credit, debit and ATM cards on the right side of the signature strip. It verifies that the card is physically available with the customer during the transaction. American express card contains a four-digit number on the front side of the card.
Purpose of CVV
The main purpose of CVV is to build the identity of the user and minimize the chances of fraud during online transactions.
Features of CVV
1. CVV isn't decorated dissimilar to with the bank card number and simply not imprinted on any receipt since nobody aside from the cardholder gets it.
2. A credit card may have its CVV code name, for instance, VISA terms this code CVV2, MasterCard names it CVC2, and American Express named CID.
3. CVV number and PIN number of the card is always different, so never enter PIn number in place of CVV number
4. CVV number is required when you do online transactions and PIN number required when you go for physical transactions like shopping in malls or paying bill physically.
Demerit of CVV
The card can be easily misused. if the card is copied with the magnetic strip and the fraudster has access to your CVV code also.
