CarderPlanet
Professional
Online shopping is no longer an innovation, but rather the norm of modern life. Global e-retail sales are projected to grow to $ 4.8 trillion by 2021, according to the latest projections . Since consumers prefer to pay with their plastic cards, about 3 billion credit cards are actively used worldwide. Thus, 70% of people have at least one card.
When making a purchase online or over the phone, shoppers are often asked to enter their CVV. Do not confuse with PIN or card number. But what does this combination of numbers mean and why is it so important? Let's get to the heart of the matter.
CVV is a three-digit security number printed on a plastic card. Its main purpose is to prevent unauthorized transactions. When a merchant asks for a CVV or CVC (call it what you want), he thus verifies the cardholder.
To avoid confusion, you should understand why multiple names are used to denote a security code. Someone knows it as CVV, and some are sure that CVC is the very guarantee of data confidentiality. So what's the difference? The thing is that payment brands did not agree on one option and prefer to call the three or four-digit number in different terms, but they all mean the same thing. Here are the values you can see:
Unfortunately, online scams are growing at a staggering rate. Hackers are becoming more inventive and new ways of scamming are emerging more and more. Having access to confidential credit card data (including the CVV code), attackers can dispose of money and carry out any kind of transaction. Often, funds are simply written off.
The 3 most common ways to illegally withdraw money:
Also, pay attention to the payment aggregator that the store uses. If it's a reliable provider with a lot of experience and a good reputation, your payment information will be safe for sure. For example, Interkassa operates in accordance with the PCI DSS certificate - the highest level of data protection. And 3D Secure technology allows you to verify users.
When making a purchase online or over the phone, shoppers are often asked to enter their CVV. Do not confuse with PIN or card number. But what does this combination of numbers mean and why is it so important? Let's get to the heart of the matter.
CVV is a three-digit security number printed on a plastic card. Its main purpose is to prevent unauthorized transactions. When a merchant asks for a CVV or CVC (call it what you want), he thus verifies the cardholder.
To avoid confusion, you should understand why multiple names are used to denote a security code. Someone knows it as CVV, and some are sure that CVC is the very guarantee of data confidentiality. So what's the difference? The thing is that payment brands did not agree on one option and prefer to call the three or four-digit number in different terms, but they all mean the same thing. Here are the values you can see:
- CVC / CVC2 is the name that Mastercard uses
- CVV / CVV2 is an abbreviation for Visa
- CID / CID2 - this is the name of the combination of numbers on the American Express card
What is CVV2 / CVC2 and why are they needed?
You may have already noticed the number 2 that comes after the abbreviation. Two means the second level of protection of monetary transactions. More often, CVV2 is not indicated on the card, but is assigned when a credit card is issued. Thus, the merchant can request these numbers during the transaction to prevent phishing on the network. The client, in turn, has the right to request information about CVV2 / CVC2 from the issuing bank.Protecting Your Card CVV: What Should Buyers Remember?
As already mentioned, CVV is one of the most effective ways to make sure that the cardholder is using it. Therefore, these numbers are an important attribute of online shopping, both for online store owners and buyers.Unfortunately, online scams are growing at a staggering rate. Hackers are becoming more inventive and new ways of scamming are emerging more and more. Having access to confidential credit card data (including the CVV code), attackers can dispose of money and carry out any kind of transaction. Often, funds are simply written off.
The 3 most common ways to illegally withdraw money:
- Fraud by email or sms. This method is found all the time. An email is sent to the mail, where the user is asked to confirm the details of the account. When a letter looks like it was sent by the issuing bank, it's hard to spot the catch. Sometimes hackers even make an exact copy of the bank's website, to which cardholders follow the link.
- Card identification. What could be simpler than a call from a “bank” with a request to confirm payment data? You can often hear that this procedure is required to prevent card blocking. Of course, this method is getting harder and harder to get money illegitimate, as the user becomes vigilant. However, such an uncomplicated trick still catches especially gullible people by surprise.
- Keylogger. Since calls have practically lost their relevance and efficiency, fraudsters have come up with a more sophisticated technology to obtain information on the card. Any site, especially a poorly protected one, can hide a program that reads keystrokes. Accordingly, the user enters billing information that is tracked by the program. Such software, alas, can be found in the public domain.
How to protect yourself online?
When shopping on the Internet, you need to be especially vigilant and careful. The presence of CVV and CVV2 is what will allow a fraudster to easily get to the cardholder's money. We hope the following tips are helpful in preventing online scams.- The good old antivirus software has not yet been canceled. Strangely, many people ignore this important component of virtual security.
- Do not shop in places where the Wi-Fi connection is not password protected.
- If you lose your card, block it using the online banking application and immediately inform the bank about the loss.
- With both Apple Pay and Google Pay gaining popularity, passwords such as your date of birth or 1111 are not valid. Touch ID, in combination with a strong password, is what will give fraudsters their heads and most likely save your money on your bank card.
- Do not trust your data to anyone, including relatives, friends, and even employees of financial institutions. The latter already know your payment information, if not, chances are high that they are scammers.
- Obviously, you shouldn't store numbers and passwords in a notepad, in a separate file on Google Disk, or in notes on your phone. For such purposes, it is better to use applications such as LastPass, Bitwarden and analogues.
- Anyone who asks for a CVC code and PIN in order to make a money transfer or any other transaction are potential fraudsters. Remember: a credit card number is all you need for money transfers.
- Give preference to stores that use 3-D Secure. This is the third level of protection, originally created for the Visa payment system. The cardholder must enter the password that the bank sends in an SMS message. Also, the buyer can confirm the payment by pressing a certain number during the call.
- It will not be superfluous to create a separate account for online shopping, where you can periodically drop a certain amount. In addition, we recommend setting a limit on the withdrawal of funds.
Summarize
CVCs are not just random numbers. Their purpose is to prevent misuse of payment data. Keep in mind that not every seller will ask for a CVV, but it is helpful to know where it is if asked to share it.Also, pay attention to the payment aggregator that the store uses. If it's a reliable provider with a lot of experience and a good reputation, your payment information will be safe for sure. For example, Interkassa operates in accordance with the PCI DSS certificate - the highest level of data protection. And 3D Secure technology allows you to verify users.
