| The age of credit cards had added convenience | | | | in the presence of the card. Since the CVV |
| for society, but also some very real risks of | | | | is only listed on the actual card, the person |
| fraud and misuse. While shopping on the | | | | using the card must have the card in their |
| Internet, for example, there isn't anyone to | | | | hand when charging a purchase. |
| match up the credit card with a driver's | | | | |
| license or a face, and anonymity can mean | | | | Many online retailers have included a |
| that anyone is using that credit card number. | | | | separate box for customers to fill out with |
| | | | the CVV in order to be sure that the |
| To fight back, credit card companies are | | | | transaction is valid. When used along with |
| using security measures to be sure that the | | | | the credit card number, more fraud is |
| person buying items is actually the same | | | | thwarted because it's a double check system. |
| person that is signed up for the card and the | | | | |
| bills that come to their house. | | | | While this doesn't help when the actual |
| | | | credit card is stolen, it does help to cut |
| What is CVV? | | | | down on transactions that are made by those |
| | | | that hack into computer systems for credit |
| CVV stands for Credit Verification or | | | | card numbers. This information stealing used |
| Validation Value. All major credit card | | | | to mean that thieves could charge hundreds of |
| companies started using CVV in order to | | | | dollars of merchandise without a problem, but |
| validate the identity of the user when the | | | | now, they need even more information than |
| physical presence of the card or cardholder | | | | they might be able to get. |
| is not necessary. | | | | |
| | | | Where else is the CVV used? |
| Visa and MasterCard include a three digit CVV | | | | |
| on the backs of their cards in the signature | | | | And while the Internet has gotten the most |
| panel and Discover does the same thing. | | | | attention for the CVV, purchases over the |
| American Express includes a four digit CVV on | | | | phone or by mail order can also be made more |
| the fronts of their cards in varying | | | | secure with this extra information. |
| locations. | | | | |
| | | | If you have trouble locating your CVV, you |
| But how does this help with fraud? | | | | can contact your customer service center with |
| | | | the number listed on the back of the card, |
| The thing with the CVV is that it allows the | | | | but generally it's easy to see where there |
| retailer to see that the customer is actually | | | | are extra digits on the card. |