While making card payments for online transactions, you are asked the CVV number written on the card, which is usually 3 digits long.
While making card payment for online transactions, you are asked the CVV number written on the card, which is usually 3 digits. Without this number payment is not done.
However, some banks also call it the CVC code. This is so important that it is advised to keep it completely confidential. The full name of CVV number is Card Verification Value, also known as Card Verification Code.
Features CVC number:
This CVC code, you will see next to last on the magnetic strip on your credit card or debit card. The biggest feature of this code is that it is not easily saved on any system.
Many times you must have noticed that at the time of online transaction your card details are auto saved and you do not have to fill the full details of the card while making the next payment. Only CVC number has to be entered, because CVC number is not saved.
Why is the CVC number written on the back?
Nowadays there is an additional security layer available in the form of OTP while making card payments. Despite this, CVC number is very important from the point of view of security.
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The second thing is that this number is written on the back of the card, so it is not easy to see it while making online payment. By the way, it is advised that you remember your CVC number and erase it from the card.
Keeps you safe from data theft:
CVC number helps you in case of data theft. This is because as per the banking regulation no machine can store the CVC number.
In such a situation, your card details and personal information may be saved on a merchant's website, but your CVC number will not be there.