How CVV And CVC Codes Are Used To Ensure Card Security

Shopping online is not only fun, it is a great convenience and one can find many unique and low-price options using a credit card. Plastic is the new paper in the modern world, with more and more individuals switching to credit cards to avoid the need to carry around cash everywhere. However, credit card security needs to be taken into mind, as credit card fraud is becoming a bit of a problem. Here is how the credit card industry combats this problem with the use of cvv and cvc codes.

When credit cards first came into business, they were mostly used in concordance with magnetic card readers, which need the cardholder to be present. Now, a majority of credit card transactions are done over the Internet, where the buyer is not actually present. To ensure that the person entering the credit card digits is the legal holder of the card, credit card companies made card security codes mandatory on all their cards. These codes are termed differently; called Card Verification Value (CVV), Card Validation Code (CVC) and Card ID (CID), by Visa, MasterCard and Discover respectively.

These codes are the last three digits on the back of the card, with Discover, MasterCard and Visa. American Express users can find their 4-digit CVV code on the front of their card above the card number. Almost every website that accepts credit cards requires the 3-digit number to be entered before the transaction is made. This simply ensures that the person making the transaction is actually holding the credit card. However, cvv and cvc codes are not entirely foolproof, if the card is stolen, the thief will have access to this code, which is why it is best to report the theft immediately.

Several scams include emails purportedly from banks, requesting credit card information. As a rule, it is never safe to give such information to ANY third party, regardless of who they claim to be. In reality, banks and companies will never ask for such information. It is also a good idea to check that the website from where the purchase is to be made is secure. Most browsers have a lock icon in the upper or lower right hand corner, which shows that the site is secure. Experts also recommend destroying and shredding all papers and documents with credit card info on them.

CVV codes do not stop 100% of credit card frauds from happening, but they do prevent most of them. In order to keep a card safe, one needs to store it well, review bills thoroughly and be judicious when entering any credit card numbers or information and always keep credit card security in mind.

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