Finding the right combination of tools to automatically screen fraud is essential to a good fraud prevention strategy. Learn more here.
The three- or four-digit security code printed on the back of credit cards (or on the front for American Express), is a security feature for “card not present” transactions. It was instituted to help reduce the incidence of credit card fraud. Asking customers to enter their CVV at checkout is an extra step towards verifying the ownership of the card.
The security code adds a level of security for credit card online transactions, as the physical card must be in possession of the person making the transaction. The code cannot be read from the magnetic stripe, nor is it visible when printing the front of the credit card. This code may have different names, Visa refers to it as Card Verification Value (CVV, CVV2), Mastercard, as Card Validation Code (CVC, CVC2), Amex and Discover as Unique Card Code (CID)
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