Saturday, 8 December 2012

credit card security is becoming a problem, but,here is it, the issue is now for the better,  it is now  made easy. The card security code , sometimes called card verification data , card verification value (CVV or CVV2), card verification value code (CVVC), card verification code (CVC or CVC2), verification code (V-code or V code), card code verification (CCV), signature panel code , it has different names, what we are saying is that there are different terms for security features for credit or debit card transactions, providing increased protection for the merchants against credit card fraud.

Merchants who require the CVV2 for "card not present" transactions are forbidden by Visa from storing the CVV2 once the individual transaction is authorized and completed.This way, if a database of transactions is compromised, the CVV2 is not included, and the stolen card numbers are less useful. Virtual terminals and payment gateways do not store the CVV2 code, therefore employees and customer service representatives with access to these web-based payment interfaces who otherwise have access to complete card numbers, expiration dates, and other information still lack the CVV2 code.
Since the CSC is not contained on the magnetic stripe of the card, it is not typically included in the transaction when the card is used face to face at a merchant. However, some merchants in North America, such as Sears and Staples, require the code.. This provides a level of protection to the bank/cardholder, in that a fraudulent merchant or employee cannot simply capture the magnetic stripe details of a card and use them later for "card not present" purchases over the phone, mail order or Internet. To do this, a merchant or its employee would also have to note the CVV2 visually and record it, which is more likely to arouse the cardholder's suspicion.
Supplying the CSC code in a transaction is intended to verify that the customer has the card in their possession. Knowledge of the code proves that the customer has seen the card, or has seen a record made by somebody who saw the card.