Useful information about CVV

macfranc007 December 26, 2017 Nigeria News today & Breaking news ▷ Read Nigerian newspapers 24/7 Johnson Olawale

What is “CVV”? You must have come across this term while trying to use your card to make some transactions online. Just in case you don’t know what it means or you have no idea where it is, here is a helpful tip for you.

What is CVV on ATM Card?

The full meaning of CVV is Card Verification Value. It has other names such as Card Verification Data (CVD), Card Security Code (CSC), Personal Security Code, and Card Verification Code (CVC). The name depends on the card company. This is a security feature used to protect your card and reduce the incidence of credit card fraud for what is known as "card not present" payment card transactions. Simply put, CVV is an anti-fraud code instituted by credit and debit card companies around the world.

Each time you want to complete any transaction or make a payment with your card online, you will be asked to enter your CVV. This is to verify that you are holding the card and you are using it to make payment for a transaction online. The code is meant to prevent anyone from using your card number to make transactions online except they have your card in their hands. Your CVV code and other information are transferred over a secure SSL connection when you are using it online.

The CVV is an extra code that is printed on your credit or debit card. For cards such as MasterCard, Visa, and Discover, the Card Verification Code is the three digits number printed on the signature strip on the back of your credit or debit card. The CVV for American Express cards is a four-digit number printed on the front of the debit or credit card. CVV is different from your secret PIN code that you enter at the ATM for withdrawals or on the POS for payments. So, never make the mistake of entering your card PIN number when you are asked to provide your CVV number.