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What is the CVV?
CVV stands for Card Verification Value, it’s another important part of credit card and as the name suggests, it is an all-round security code for your credit card that is needed to perform a plethora of activities. Each credit card company or a bank has its form of security code such as CVV2, CSC, CID, and more. With the help of this code, you can keep your card and money safe from fraudulent activities.
CVV adds an extra layer of protection against theft and unauthorized transactions against your credit card. It serves as a plethora of essential functions.
The importance of CVV on your credit card
If you want to make transactions online, then you would need your credit card’s details such as the name of your credit card, the credit card number and card expiration date. Now, there’s this 3 digits numerical code behind your credit card which is a requirement as well. The CVV is one of the essential security features of your credit card.
All other numbers that are on your card, such as the card number, expiration date. These are all independent of one another and do not bear any link to one added including the CVV of your card.
The Main Use of CVV
A bank or a financial institution that provides a credit card to the users needs to maintain identity and uniqueness as well as providing a secure service throughout. It is for this reason that the system of CVV was first founded. This code is of original importance and is needed for you to perform a transaction with a merchant. It is different from a PIN that is required to complete a transaction; instead, it is used to provide an additional layer of security, especially in the case of online transactions.
CVV is generally present on the backside of your card along the magnetic strip and verifies your identity when you are not physically present with the card.
Protective Quality of CVV
Credit card is mostly used in virtual payment gateways and for online payment. Since you are not physically present in front of the merchant to make the payment, the merchant needs to be sure that it is you making the transactions. These portals refrain from saving your hank details, including your CVV, because it is sensitive.
Without the CVV, even if someone has all other banking details about you, they will not be able to make transactions, making a CVV code one of the biggest hurdles for those who are associated in fraudulent activities. Hence your card details cannot be misused by anybody, and your money stays safe and protected.
The CVV is of grave importance, and you must always keep it private when dealing with your credit card. It is sensitive information, and hence you must be aware of where you are writing it down. It is also vital for you always to keep it away from people.
Here’s A Great Video Explaining What Is A CVV