What is a Credit Card CVV Number? Why You Need to Worry About It?

A credit card CVV number is an added layer of protection for your card information and your identity. While shopping with credit cards, there is always a risk of fraud and phishing as you share your card details. To protect against such risks, issuers apply many protective measures. One such measure is a CVV number for credit cards. 

Read on to learn more about it and how it prevents fraudulent activities online or at POS terminals. 

What is CVV?

Before moving ahead, you should know the full form of the CVV code. It stands for Card Verification Value. It is also mentioned by another name such as:

• Card Security Code
• Card Validation Code 2
• Card Identification Number

It is a three-digit code on your card, which is important for completing transactions. Know that it is also mentioned on debit cards, as it is an essential feature for security. 

Also Read: Credit Card Vs Debit Card

How It Works to Protect Against Fraud?

Depending on whether you are making payments online or offline, the CVV number performs a dual role. Here is how it protects you during different modes of payment.

In Online Payments 

To make an online payment using your credit card, you need to enter a few details, which include:

• Credit card number
• Cardholder’s name
• The expiry date of the card
• Card security code, CVV 

Upon entering these details, the payment gateway verifies the information. Since it is against the Payment Card Industry Data Security Standard, merchant payment portals cannot save your details on the platform. Therefore, every time you make a transaction, you have to enter these details manually. 

This ensures that the card is present with the shopper while making the transaction and that they are not using someone else’s details. In case you enter the wrong CVV number, the payment will be declined. As such, it acts as an authentication checkpoint. 

In Offline Payments

If you’re making a payment by swiping your card, the POS machine reads all your card details. It cross-verifies the detail on the front of the card with the information on the back. If both the details match, only then will your transaction be successful. 

Where Can You Find It?

The location of your card security code, CVV, depends on your credit card payment network. If your payments are authorised by Mastercard, Visa or Discover payment network, then you can find it on the back of your card. It is located under the magnetic strip and on the right side of the signature. 

However, if you are an American Express credit card holder, it is at the front, above your card number. Since such critical information is accessible directly on your card, it becomes crucial to keep your card safe. 

Also Read: Visa Master Card vs Rupay Credit Card

If you can avoid it, do not hand over your card at reception, restaurant, hotels or any other place to make the payment. Besides, it is best that you swipe your credit card yourself.  Additionally, for online payment, ensure that the merchant is reliable and the payment platform is secure. 

However, the best way to ensure that there is no breach of data and nobody can see your credit card information is to opt for a numberless credit card.  Such credit cards do not have any information printed on your card. This way, even if you hand over your card to the receptionist for payment, there is no risk. 

One such card is the Fibe Axis Bank Credit Card. It’s India’s first numberless credit card. As a cashback card, it gives up to 3% cashback on food orders, travel and entertainment expenses. Additionally, you can get 1% cashback on all other spending categories. 

It is a RuPay-based credit card, which allows you to conveniently make UPI payments at a lower cost. Its other features include one complimentary domestic lounge access per quarter and a fuel surcharge waiver of 1% up to ₹400 per billing cycle. To apply, download the Fibe App now on your smartphone and get started! 

FAQs on CVV Number

How do I find my CVV number?

You can find it on the back of credit cards.  However, this only applies to Mastercard, Visa and Discover credit card users. If you have an American Express Card, then your credit card CVV no. is on the front. 

What is the CVV number on an ATM card?

It is similar to the number on a credit card. Both perform the same function of protecting your card details against fraud.  Depending on your payment network and issuer, it can be three to four digits long. 

Is CVV a password?

No, it is a detail mentioned on your credit card, similar to your card number, cardholder’s name and expiry date. 

Is CVV private?

Yes! It is a confidential detail that you should not share with anyone, not even the customer care executive of your issuer.