What is CVV on Debit Card and Where to Find It?

CVV or Card Verification Value is a three-digit or four-digit number printed on the back of your debit card, which helps complete online transactions. It is issued by the banks and remains static until the debit card expires. You must keep your CVV number confidential to ensure your money is safe. Read on to learn more about CVV numbers, their importance, and how to protect them from fraud.

What is CVV in a Debit Card?

The CVV number is a protective and security layer that guards the card information when swiped at the point of sale (POS) machine or during online transactions. It is an external verification feature that banks use to ensure that the rightful cardholder has possession of the card. CVV number generated by the banks remains the same until the card expires or is damaged.

CVV is not a random number; it is generated using a complex algorithm. The CVV is unique to every card and is based on the card number, expiration rate and other particular codes of the card issuer. Hence, every time you get a new card, you get a new CVV unique to that card.

Merchants are not allowed to save the CVV number as it is against the Per Payment Card Industry Data Security Standards (PCIDSS). If someone has the CVV of your card, then it can be misused, and you can lose your savings. Hence, it is important to keep your CVV and other card information, such as card number and expiry date, confidential.

The primary purpose of the CVV number is to add an additional layer of security and ensure that only the cardholder is using the card. When you purchase products online, entering a CVV number is important. If not, you will not be able to complete the transaction. Even if someone gets hold of the card information, such as the card number and expiration date, they won’t be able to process the transaction without the CVV number.

Different Names of CVV

Card Verification Value is a standard industry term, but different issuers use a different name for it. The following are the different names of CVV.

How Does CVV Work?

When you want to purchase something online and you proceed to check out, you must enter the CVV number in the payment gateway. Without the CVV, you cannot complete the transaction. By entering the CVV, you will confirm that the card is in your possession. It is just an extra layer of safety that banks use to reduce fraud. If you enter the wrong CVV, the transaction will not be processed.

Despite being an added layer of security, CVV doesn’t protect cards from cybercrimes. Hence, it is best to avoid websites that do not ask CVV or do not have multiple layers of verification to complete a transaction.

How to Find CVV in Debit Card?

CVV is a three or four-digit code printed on the backside of your debit card or credit card. You can find it right below the magnetic strip. Usually, the first few digits of the CVV are hidden by the magnetic strip, and only the last few digits are visible. These last three or four digits are necessary to complete online transactions.

Different Components of CVV

The CVV comprises two components, namely the magnetic strip, which has the CVV 1, and the three-digit code visible to you on the card.

• CVV1: The magnetic strip on the card has an encrypted code which is not visible to the users. When the card is inserted into POS machines, the code is automatically read by the machines. The code is generated from a unique combination of your card number, expiry date, and the issuer’s unique code.
• CVV 2: The CVV 2 or CVV is the number visible to your eyes. It is a three-digit number that must be entered to complete the transaction. It is printed on the back of the card and cannot be read by the POS machines. You must enter it each time you shop online, no matter how frequently you shop on the website.

How Does CVV Protect You From Frauds?

CVVs are designed to prevent fraud during online transactions. When a merchant requests for CVV, it ensures that the card is in your possession. When an online hacker gets hold of your card information with the CVV, they will not be able to proceed forward and complete the transaction. Moreover, merchants are not allowed to save the CVV information and hence require you to enter the CVV every time you shop online.

CVVs also help in offline transactions. The magnetic strip on the back of the card has the first few digits of your CVV, which can be read only by the POS machines. The code in the strip cannot be used without the last three digits of the CVV code, which needs to be physically entered to complete a sale.

Hence, the CVV offers an extra layer of protection for online and offline transactions done using a debit card.

How To Protect Your CVV Number?

The following are some of the tips you can follow to protect your CVV number.

• Use a computer or laptop with a good anti-virus installed in it.
• Always complete financial transactions when you are in a protected WIFI. If you are not using your home network, use a VPN to complete transactions.
• Don’t save your card details on your browser or retail websites.
• Do not share your debit card photos on social networking apps such as WhatsApp, Facebook, and Instagram.
• Ignore calls and messages asking for your personal information. Sometimes, fraudsters pretend to be bank officials and ask for card details such as card number, expiration date, CVV, and OTP. Don’t trust them, as banks never ask you for any personal information.
• Make sure you shop only on trusted websites. If you do not trust a website, then use the cash-on-delivery option.
• Keep track of your savings account activities. Report any fraudulent activity immediately.
• Report a stolen or lost card immediately.
• Sign on the back of the card before using it.
• Memorise and erase the 3-digit CVV on the back of the card.
• Always ask the merchant to swipe your card in your presence and make sure you enter the PIN only after covering the keypad of the POS machine.
• Change your ATM PIN often.
• Register for SMS and Email alerts for debit, credit, and other activity in your bank account.
• Do not write down the CVV or ATM PIN anywhere. Just memorise it.
• Avoid using ATMs located in isolated areas or places with no security.
• Destroy the ATM transaction slips before throwing them. You can tear them into smaller pieces and dispose of them in your home’s dustbin. This is because the information on the slip can be misused by fraudsters.

Conclusion

CVV is an added layer of protection and can help reduce online and offline fraud. However, it doesn’t prevent fraud completely. Hence it is important to keep your debit card and credit card information confidential at all times.

Frequently Asked Questions

What is the CVV on my debit card?

Card Verification Value (CVV) is a three or four-digit number printed on the back of your debit card. It is beside or below the magnetic strip on your card. You must use the CVV to complete online transactions.

Where can I check my CVV number?

The CVV number of your debit or credit card is on the backside of the card. It is a three- or four-digit number that will help in completing online transactions. Sometimes, the CVV is printed on the front side of the card, but you will usually find it on the backside.

What is the CVV number used for?

CVV is a unique code which is printed on the back of a debit or credit card. It is used to authenticate the transactions you do online or over the phone. It adds an extra layer of security, ensuring the money in your account is protected.

How is the CVV number generated?

CVV is not a random number; it is generated using a complex algorithm. The CVV is unique to every card and is based on the card number, expiration rate and other particular codes of the card issuer. Hence, every time you get a new card, you get a new CVV unique to that card.

Why do online shopping portals ask for CVV instead of PIN?

A CVV is different from an ATM PIN. CVV adds an additional layer of security when you purchase something online. However, an ATM PIN is used for identification. It is set by you and can be used only for offline transactions. For online transactions, merchants always ask for CVV, which helps authenticate the transaction.

Is CVV the same as a debit card PIN?

No, CVV and debit card PIN are not the same. CVV is generated by the bank using a unique algorithm, and it remains static throughout the life of the card. ATM PIN, on the other hand, is set by the user and is dynamic in nature. It is important that the user changes the ATM PIN every two or three months to ensure safety. Moreover, CVV is a three or four-digit code unique to every card, and ATM is a four or six-digit code and can be the same for multiple cards you hold.

What is the full form of CVV?

CVV stands for Card Verification Value.

Can I pay online without CVV?

Online financial transactions are incomplete without CVV. If you find websites that allow transactions without CVV, then they must not be trusted.