Read on to understand the meaning and uses of debit card CVV.
Bank frauds are becoming increasingly common today. To mitigate the risks of increasing fraudulent activities, banks have come up with a way to ensure that their customers can conduct secure online transactions while using their debit cards. To this end, they assign a unique 16-digit card number along with a CVV code. You may have seen this CVV number embossed on the flip side of your credit or debit card, right along the magnetic signature strip. Let us find out what CVV is in this article and understand its importance.
CVV stands for Card Verification Value. You need to enter a code, especially when you make online payments using your debit card. Generally, the CVV is a 3-digit code embossed on the flip or reverse side of most debit cards powered by Visa, Master or Rupay. There are also exceptions like the American Express powered-debit card, which comprises a 4-digit CVV code printed on the front side of the debit card, just above the card number.
You may be surprised to know that every debit card has two CVVs – one hidden under the magnetic stripe, and the ch is visible to us. The hidden CVV is used for physical transactions. In contrast, the visible debit card security code is the one you need to input, along with your card number and card expiration date, while conducting an online debit card transaction.
The CVV number is not the same as the Personal Identification Number or PIN. The fundamental differences are as follows:
The CVV code on debit cards protects you from online fraud. You need this card to authenticate your online transactions. CVV is a means to verify your identity, which is why each debit card has a unique CVV number.
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*Disclaimer: This article is for information purposes only. All information provided is generic and basic. Contact us at DBS to know more.