CVV Full Form- Card Verification Value

The full form of CVV is Card Verification Value. It is a code used for security verification while processing financial transactions through cards.

More About CVV

• The number is generated by the card company while issuing new cards. It is printed on the backs of the cards.
• Usually, a credit or debit card has two CVVs- one is inside the magnetic strip placed on the card, and the other can be seen on the back. 
• The magnetic strip is used when you swipe the card at a store. The visible CVV is 3 digits long and is used for online transactions. 
• Banks and card companies attempt to devise ways to lower the risk of credit and debit card fraud. 
• They add more than one layer of security over online transactions to make them more secure. 
• CVV is one such attempt to make card transactions more secure. 
• When a user tries to make an online payment using their card, they are asked to enter the CVV along with the card number, name, and expiration date. 
• The card number and the CVV entered by the user should be correct for the transaction to be successful. 
• When you make an online payment, the merchants are allowed to store your card number, but they are not allowed to store your CVV for security.
• The transaction will only be approved if the user enters the correct code. Because when the person enters the correct CVV, it proves they have the card.