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Why CVV Code Is Important?


When you pay for something you bought using a debit or credit card, you will notice a 3-digit CVV code at the back which is needed to complete the transaction. This number is very important. This Credit Verification Value or CVV number is necessary for processing your payment by card with extra security. In the past, people were hesitant to make transactions using debit or credit cards, especially when buying something online. But now this number has made debit and credit cards safer. QuickBooks merchant services provide credit card processing for payments. You need to first register for your MCC code to get the QuickBooks merchant services for your business. The MCC code will categorize your business as a low-risk or high-risk business. 

Use of CVV number

All debit and credit cards have a unique CVV code. This is different than the PIN. This number indicates that the user is holding the card while making the transaction. This number protects credit cards against fraudulent activities, especially in the case of online transactions. According to Per Payment Card Industry Data Security Standards, the online portals where you use credit cards for the transaction cannot save the CVV number. So, there is no way that any other person can steal your CVV number. 

CVV is generated automatically by the credit card issuer. The CVV number is unique for each card and so there won’t be any duplicates. If you already have a credit card and you apply for a new card then you will have another new CVV. Even if your current card expires and you get a replacement card, the CVV number will change and won’t be like the previous one. 

Banks generate CVVs using several information. These are primary account number, Data Encryption Standard keys, expiration date, and service code. A special algorithm is used to get the number. 

Protecting CVV

Though CVV is a safe number, still you must take some precautions to protect the number. You should install anti-virus software on your device so that hackers cannot still your information. The Wi-Fi network of your home must be protected by a password so that outsiders cannot access it. You should not give away your credit card information on any website. Make sure that the website has a good review and you can trust them. You should never share photos of your credit card with your friends on social media.

Whenever any website asks for personal information, don’t give away the information without checking whether the website can be trusted. You must also check your bank statements regularly to find any irregular activity. These steps will help you to protect your CVV number from hackers.