The CVV code is a very important information on a credit card. However, many people wonder what the CVV code is, what its role is, and what is the CVV number used for?
Credit card is one of the most popular and popular non-cash payment aid tools today. With the bank’s cash advance payment feature, cardholders can make payments directly from the counter via swiping as well as quickly and conveniently pay for online shopping bills.
When making an online payment using a credit card, you will inevitably be asked to enter a CVV or CVC number. So what is a CVV code, or what is a CVC number, how to use them? will be answered specifically in the article below.
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What is a CVV
To understand what a CVV code is, we first find out about the origin of it. In response to the convenience and quickness of buying online, through e-commerce sites, it has long been allowed for users to pay by credit card or international debit card, however The user’s basic name, ID number, or basic card information such as the card number is quite easy to exploit if careless.
Therefore, to increase security and reduce risks when paying online by credit card, new card verification code is invented, abbreviated as CVV (Card Verification Value).
CVV and CVC are both international credit & debit card verification codes, CVV number and CVC number basically have the same function and meaning. Only these two types of numbers apply to different types of cards, CVV numbers apply to Visa, and CVC numbers apply to MasterCard cards (including debit cards and international credit cards).
For example, if you wonder what the cvv number on the Metrobank is, you just need to turn the back of the card to see the location of this code sequence.
Where to find the CVV number
By now, you should understand what a CVV number is and what it does, but if you are just starting out with a credit card, you may find it difficult to locate the CVV number on the card. Actually finding a CVV number is not difficult. The CVV or CVC number is the last 3 digits on the right side of the cardholder’s signature (the white paper on the back of the card).
These numbers are printed clearly and easy to remember, so it is best to delete this number as soon as you receive the card, and write this number on your phone or on paper and then put it elsewhere, in case the card is traced. fraudulent theft. Why is the CVV number so important? Find out in the following section.
Instructions on how to use CVV numbers for online payment
Online payment features of international cards such as Visa or MasterCard are very popular today. Even more, many people open credit or debit cards mainly to serve online shopping. If you are new to online shopping for the first time, please refer to the card usage as well as CVV / CVC number when paying for online shopping bill below.
For a simplest view of the use of CVV / CVC numbers when paying online bills, refer to the form of card payment on Lazada, a very popular e-commerce site today.
After selecting the goods to buy and moving to the checkout step, you will be presented with a variety of payment options. If you want to pay via credit card or international debit card, you select Credit or Debit Card (Credit or debit card).
After choosing the card payment method, you will have to fill in the necessary information on the payment form. This form may be different from each e-commerce site and is subject to change, but it basically includes the following information:
- Cardholder’s Name: The cardholder’s name is the part printed on the front of the card, without accents. You enter the same name as the name printed on the card, not as on identification documents like ID / ID card.
- Card Number: The card number is quite easy to find because it is a series of numbers embossed on the front of the card, including 16 digits. You enter this range of numbers in the box on the form.
- Expiry Date: This section you pay special attention because the information on the card may be presented differently for each card. If you have a card that says Exp Date, you just need to write this number, while there are cards with the same date of card issuance date and card expiration date, which can cause confusion for users. Specifically, if the card contains both valid information Valid From and Valid Thru (date of issue and expiration date), remember to fill out the Valid Thru in the form.
- CCV / CVV: This is the important information presented in the first part of the article. If you already understand what CVV number is, CCV number is, finding and filling these information in the payment form is too simple, we will not mention more.
However, you should remember that these are two very important parameters because when paying online, this may be the last information that you need to fill out and the invoice will be accepted immediately without ever have OTP code. Not all pages support sending OTP (One-Time Password) to your phone for confirmation, the only verification code in the payment form is only CVV / CVC. That’s why you can risk losing money if your credit card information is lost or stolen. Therefore, keep your card information secure, the first and easiest way is to delete the CVV / CVC number on the back of the card.
What happens with the CVV / CVC number being revealed or stolen?
With online shopping is becoming more and more popular today. Using credit cards to pay for online expenses is no longer a strange thing. And many credit cards do not need to verify with OTP or PIN, but only use the information on the card, especially CVV code, the payment transaction is completed. This has raised concerns that CVVs will be easily lost and credit card money flies.
Although banks have attached EMV chips to avoid card counterfeiting. However, that is not enough to avoid the tricks of scammers and hackers such as: Installing chips on ATMs, or transaction counters, or attacking websites, ATMs, POS machines to steal information. credit card messages of customers. So customers must pay special attention to paying in reputable places to avoid paying on unofficial websites
How to delete CVV / CVC number on credit card
As we also know the bad guys only need the card number, first and last name, the validity date expiration date and CVV / CVC number to make the payment. So when you receive a credit card, you need to remember and delete the CVV / CVC number on the card or obscure them. However, if you are careful, there is no need to delete it
However, you should also note that you only use your mastercard / visa at reputable websites or large shopping centers. Before making transaction, please register Verified by Visa / MasterCard (SMS-banking) service to receive OTP in every transaction. And also make sure that this is your verification step and also your last stop that the most difficult to steal
For even more safety, you should sign the back of the card. For when you make payment at the counters or shopping centers, the staff at the counter will be responsible for checking your signature to avoid the case of fraudsters.
In addition to learning what a CVV code is, you should consult more about how to protect your card information well. For questions, please contact Fastloans.PH for more detail.